Paws Holdings Buys Online Pet Store Fetch From Ocado
06 January 2021 - 10:40PM
Dow Jones News
By Matteo Castia
Paws Holdings Ltd. said Wednesday that it has bought online pet
store Fetch from Ocado Group PLC to enhance its e-commerce
proposition.
"The recent pandemic has caused a significant shift in consumer
spending from the high street to online providers across retail,
and the pet market is no exception. Paws believe that consumer
spend that has shifted online will remain online, even after the
pandemic has ended," Paws said.
The pet-care company provided no details regarding the deal as
the terms of the acquisition are being kept confidential.
Shares in online retailer Ocado at 1105 GMT were down 6 pence,
or 0.3%, at 2,393 pence.
Write to Matteo Castia at matteo.castia@dowjones.com
(END) Dow Jones Newswires
January 06, 2021 06:25 ET (11:25 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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