Cardone Ventures Announces Unsolicited $4.25 Per Share All-Cash Proposal to Acquire PetMed Express

About this update from Petmed Express, Inc.

MIAMI, December 16, 2025--(BUSINESS WIRE)--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...

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