PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
The retail chain is on the lookout for a new chief.
The CEO of department store chain Bon-Ton Stores Inc. has resigned. Bud Bergren, who has been CEO since 2004, will continue in his current role until the retail chain can find a new chief, the merchant says.
Bon-Ton, No. 520 in Internet Retailer’s Second 500 Guide, is giving no reason for his departure but says Bergren will transition to chairman of the board once a new CEO is hired. Tim Grumbacher, the current chairman will step down but remain a board member.
“Until we appoint the new chief executive officer, I will be focused on and actively engaged in the continued rollout of our strategic initiatives and the strengthening of the operations of our company,”
Bergren says. “I look forward to working with our new CEO to capitalize on the significant opportunities this company has to grow and deliver improved profitability.”
Bon-Ton, which brought in an estimated $11.5 million in web sales last year, operates several e-commerce sites and 276 department stores in the Northeast and Midwest under such brand names as Herberger’s, Boston Store and Carson Pirie Scott. The department store chain has told investors that it plans a major push in e-commerce in the coming year.