Mars acquires VCA (2017)
Candy and pet-food giant Mars completed a $9.1 billion takeover of VCA, then America's largest chain of independent veterinary hospitals, with more than 800 clinics. The deal stacked VCA on top of Mars's existing Banfield and BluePearl chains.
Mars instantly became the largest corporate owner of vet practices in the United States, controlling thousands of locations.
Private equity poured tens of billions into rival platforms over the next eight years. Roughly half the US vet-care market is now corporate-owned, up from a small slice a decade earlier.
Mars showed how a consumer giant could anchor pet care by owning the clinic, not just the brand on the bag. Tractor Supply is running a smaller, rural version of the same playbook.
