1. Cardone Ventures proposed a $4.25 per share offer for PETS. 2. The acquisition aims to enhance PetMeds' operational potential and growth. 3. Brandon Dawson emphasizes PetMeds' strong brand and valuable infrastructure. 4. Cardone Ventures shows confidence with no financing contingency. 5. The proposal is non-binding; no assurance the deal will finalize.
The unsolicited acquisition proposal reflects strong buyer interest and confidence in PETS's growth potential.
The acquisition proposal can significantly shift market perceptions of PETS value.
Investor sentiment may rise quickly due to acquisition news, but long-term depends on deal completion.
Cardone Ventures, backed by billionaire investor, Grant Cardone and his business partners Brandon and Natalie Dawson, today announced that it has submitted an unsolicited, non-binding proposal to acquire PetMed Express, Inc. (NASDAQ:PETS) ("PetMeds") for $4.25 per share in cash, representing an implied equity value of approximately $89 million.
The proposal was delivered to the Board of Directors of PetMed Express and is not subject to any financing contingency, reflecting Cardone Ventures' confidence in its ability to execute the transaction.
Strategic Rationale
Cardone Ventures views PetMeds as a strategically important acquisition that aligns with its core mission of acquiring, operating, and scaling businesses with strong brands and meaningful growth potential.
PetMeds' national pet pharmacy platform, customer relationships, fulfillment infrastructure, and regulatory capabilities present a compelling opportunity for operational enhancement under private ownership. Cardone Ventures intends to apply its proven expertise in acquisitions, value creation, leadership development, and execution discipline to improve performance, accelerate growth, and unlock long-term shareholder value.
"PetMed Express has built a trusted brand and valuable operating infrastructure," said Brandon Dawson, Co-Founder and CEO of Cardone Ventures. "We believe our hands-on operating model, acquisition experience, and disciplined approach to scaling businesses can materially strengthen execution, profitability, and long-term growth."
Leadership & Sponsorship
The proposal is led by the leadership team of Cardone Ventures, including Brandon Dawson, Natalie Dawson, and Grant Cardone.
Brandon Dawson is a proven expert in leadership, acquisitions, and business scaling with a track record of extraordinary value creation. He previously sold a company he founded for 77x EBITDA. As Co-Founder and CEO of Cardone Ventures, Brandon has helped scale the firm to approximately $225 million in revenue in just five years, overseeing more than $2 billion in assets under management — all without outside capital. His experience leading public and private companies and delivering outsized investment returns has made him a trusted operator and mentor in the $12 trillion small and mid-sized business marketplace.
Natalie Dawson is a leading expert in people development and organizational leadership. As Co-Founder and President of Cardone Ventures, she has played a key role in scaling the firm to $225 million in revenue in under five years. Natalie is the bestselling author of TeamWork and Start The Work and the host of the Building Billions podcast. Her focus on leadership alignment, culture, and team performance has helped organizations build high-performing teams capable of driving sustained, scalable growth.
Grant Cardone has raised over $2 billion for his investment funding endeavors, and is a globally recognized entrepreneur, investor, and business leader with decades of experience building and scaling companies across real estate, financial services, media, and operating businesses. He is the Founder and CEO of Cardone Capital, manages over $5 billion of assets and is a New York Times bestselling author, widely known for his focus on disciplined execution, sales excellence, and long-term value creation.
"I've followed the PetMeds business closely for more than five years and have long believed the company represents a strategically valuable platform with strong brand equity, infrastructure, and customer relationship, " said Brandon Dawson. We believe Cardone Ventures' experience in scaling businesses, driving operational discipline, and creating long-term value can meaningfully benefit PetMeds as it enters its next chapter."
Key Terms of the Proposal
The proposal is non-binding, and there can be no assurance that a definitive agreement will be reached or that the transaction will be consummated.
About Cardone Ventures
Cardone Ventures is a business growth and scaling firm that partners with companies to improve performance, profitability, and long-term enterprise value. The firm applies proven operating systems, sales and marketing optimization, leadership development, and execution discipline to help businesses scale efficiently and sustainably.
Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding a potential transaction between Cardone Ventures and PetMed Express. These statements are subject to risks and uncertainties, and actual outcomes may differ materially. There can be no assurance that a transaction will be consummated.
View source version on businesswire.com: https://www.businesswire.com/news/home/20251216526935/en/
Media & Investor Inquiries:
Izach Porter
Managing Director
Cardone Ventures
iporter@cardoneventures.com