Live Aquaria sold

[tomxreef]

Haven’t seen this posted anywhere but Live Aquaria has been sold to an independent company. I am interested to see what direction they go in.

 

[NashobaTek]

Haven’t seen this posted anywhere but Live Aquaria has been sold to an independent company. I am interested to see what direction they go in.

Petco bought them.

 

[tomxreef]

Petco bought them.

And just sold them off.

 

[Epic Aquaculture]

Interesting, could be a good thing.

 

[NashobaTek]

And just sold them off.

Haven't heard anything about that. Thanks for the heads up.

 

[hllb]

Petco bought them years ago now. If this is a new sale, please share your source.

 

[NashobaTek]

Just did a search for it and there is nothing saying they sold liveaquaria off.

 

[tomxreef]

Petco bought them years ago now. If this is a new sale, please share your source.

edit: Let me rephrase. My source didn’t explicitly say that this couldn’t be shared. Quite a few people know, and the community as a whole should know as well.

 

[kapnkush608]

 

[NashobaTek]

They would be stupid to sell something that is making money for them.

 

[NeonRabbit221B]

I can’t exactly share my source due to confidentiality and my position.

Hmm any clue on the time table for an announcement? Does that mean the end for petcos salt water section?

 

[Crustaceon]

They would be stupid to sell something that is making money for them.

Unless it wasn’t making what they forecast it should be making for them. Petco could be cutting their losses.

 

[hllb]

I can’t exactly share my source due to confidentiality and my position.

Understand! I was hoping to read about it LOL.

 

[hllb]

Unless it wasn’t making what they forecast it should be making for them. Petco could be cutting their losses.

Yes, 'profit' isn't the measure big companies use, but rather 'forecast'. If they bought it forecasting certain sales levels and growth and it didn't hit that, the fact that it may be making a profit isn't as relevant. It's super fun when management slaps a 30% growth target on a division and then states a 10% growth rate as a failure.

 

[tomxreef]

Hmm any clue on the time table for an announcement? Does that mean the end for petcos salt water section?

I can’t speculate on either of those.

 

[Wolf89]

I have high hopes for this new owner!

 

[andrewey]

If true, and without knowing anything about the financials, this would not be altogether surprising given the disruption to the supply chain and the possibility of affected short-term growth. If confirmed, here is to hoping the things they do well remain and the things that they could improve in do improve

 

[NeonRabbit221B]

Sucks for me because my local petco is run by a fellow reefer. Always a good selection of healthy coral/fish.

 

[01xp]

Maybe petsmart bought em

 

[MysticSea]

If true hope nothing changes for the worse.