- The national pet supply company Petco will buy one of the Northwoods' largest employers.
About 530 people work at Drs. Foster and Smith in Rhinelander.
Drs. Foster and Smith sells pet supplies online.
One of the company's founders doesn't think the company will move.
"I have no reason to believe they're [going to] leave Rhinelander," says Drs. Foster and Smith founder Race Foster. "Marty Smith and I actually talked to many prospective buyers. The one condition we put was it cannot leave Rhinelander at least in the foreseeable future."
Drs. Foster and Smith is the biggest seller of online pet supplies.
The sale could even help the community.
"If they expand for instance the internet platform there will be a lot of IT jobs here, technology type jobs. I see that happening," Foster said.
Company founders say Petco wanted to buy the company so they can offer more pet health supplies.
"What they're really doing is they're expanding their animal health capabilities into health and wellness. And what they liked about our company is that that's what we are. We're veterinary owned and operated," says Foster.
The sale could also benefit Drs. Foster and Smith.
"We can use their resources to help us grow, more opportunities for marketing, and we give them some animal health expertise that I think they wanted for their plan," Foster said.
The company's management won't leave Rhinelander.
The founders will also stay.
"We have friends that work here. We have family that works here. I want to continue working here and Marty's [going to] continue working here," says Foster.
The company will be officially sold in February.