Canadian Tire ( TSX:CTC.A ) recently announced that it is partnering with Petco, a San Diego-based pet food and supplies retailer, which will sell its private label pet food and treats exclusively in Canadian Tire stores. On the surface, the move makes a lot of sense given 65% of Canadian Tire customers own one or more pets. Petco is one of the biggest pet store retailers in the U.S. and is likely a name many Canadians recognize from their travels down south. Also, Canadian Tire already sells pet food and other supplies at its stores and is acutely aware of the growth in pet food in North America. "Petco's deep expertise in pet products, combined with Canadian Tire's extensive reach in a thriving pet market is a powerful combination," said Greg Hicks, president, Canadian Tire Retail, in its August 8th press release. All's good with the world. Right? Not so fast.