United Raw Pet Foods Inc, a majority-owned subsidiary of Dane Creek Capital Corp., announces that it has acquired The Wild Side Pet Boutique Inc. ('Wild Side'), a leading pet specialty retailer specializing in raw, dehydrated, baked and freeze-dried food for pets. Wild Side currently has two locations serving pet owners in Nanaimo and Qualicum Beach, British Columbia.The purchase price represents 39% of expected 2021 revenues. The acquisition is an all-cash transaction. No other terms were announced.
The purchase of Wild Side represents the 15th acquisition/investment completed by Dane Creek to date, either directly or through one of its subsidiaries, and also marks the Corporation's second acquisition of a pet specialty retailer. In late December 2020, Dane Creek acquired Growlies Pet Foods Inc., the leading retailer of raw food for pets in Canada, located in Victoria, British Columbia.
"I am delighted to be making this announcement," said Mark Warren, Co-founder, Chairman & CEO of Dane Creek. "The addition of the Wild Side locations expands our presence on Vancouver Island, creates efficiencies for our operations there and brings another retailer into the Dane Creek family that is first and foremost focused on raw feeding."
Wild Side was founded by Lisa Robinson in 2017 when she opened her first location in Qualicum Beach. The Nanaimo location was opened in October of 2020. Each location has over 15 freezers and offers over ten brands of raw food for pets. Mrs. Robinson will stay on as part of the United Raw team, taking a leadership position both in management and in community education, an area United Raw intends to expand upon over the coming months and years.
"I look forward to being part of the United Raw team and taking on these new and exciting challenges," said Mrs. Robinson.
The acquisition of Wild Side is expected to be completed on March 31, 2021. The stores will be closed on April 1, but will reopen under United Raw's ownership on Friday, April 2, 2021. The expanded public health orders announced by the Government of British Columbia, which went into effect as of 12 a.m. Tuesday, March 30, will not directly impact Wild Side or Growlies. All three store locations continue to operate in accordance with COVID-19 guidelines for retail businesses.
"We look forward to having Lisa and her team become part of United Raw and to continuing to support their passion as they help pet owners better meet the nutritional needs of their pets," added Mr. Warren.
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