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Petsmart announced Tuesday it is buying online rival Chewy.com in a deal that values the online pet food seller at $3.35 billion, according to Recode.

Chewy will remain led by current CEO Ryan Cohen and operate "largely" as an independent subsidiary of PetSmart, whatever that means.

Big Bite: The reported price tag would make the deal larger than Walmart's Jet purchase and the biggest e-commerce-only acquisition ever, Recode said.

Petsmart gobbles up Chewy.com for a reported $3.35 billion

That makes the deal even bigger than Walmart's massive acquisition of Jet.

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Petsmart announced Tuesday it is buying online rival Chewy.com in a deal that values the online pet food seller at $3.35 billion, <a class="gtmContentClick" data-vars-link-text="according to Recode" data-vars-click-url="https://www.recode.net/2017/4/18/15339208/petsmart-chewy-acquisition-price-3-35-billion" data-vars-content-id="ad516b1e-5f8d-4a47-b754-de04b8ccce41" data-vars-headline="Petsmart gobbles up Chewy.com for a reported $3.35 billion" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.recode.net/2017/4/18/15339208/petsmart-chewy-acquisition-price-3-35-billion" target="_blank">according to Recode</a>.Chewy will remain led by current CEO Ryan Cohen and operate &quot;largely&quot; as an independent subsidiary of PetSmart, whatever that means.Big Bite: The reported price tag would make the deal larger than Walmart&#x27;s Jet purchase and the biggest e-commerce-only acquisition ever, Recode said.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Petsmart gobbles up Chewy.com for a reported $3.35 billion

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