In 2021, private equity investment groups continue adding dog, cat and other pet food companies to their portfolios, sometimes from other investors. Belgium-based family-owned investment firm NXMH acquired Whitebridge Pet Brands, maker of natural and minimally processed pet foods, complements, treats and supplements.
Earlier this year, analysts with investment bank Cascadia Capital forecast that private equity investor attention to the pet food industry could persist for years. In the aftermath of the ongoing pandemic, large pet food corporations may need to behave more cautiously. Meanwhile, institutional equity groups may have trillions in cash. Following successful pet food industry investments in the wake of the Great Recession, these investors now see pet food as a viable money-making option, according to Cascadia, and likewise, they may dominate pet food industry mergers and acquisitions into 2022. However, investors may find themselves chasing after a limited number of innovative, lucrative pet food companies, which may inflate the value of those companies that do succeed in high growth segments.
Adapted from a press release:
Whitebridge Pet Brands is headquartered in St. Louis, Missouri, USA and has manufacturing operations in Joplin, Missouri, Woodinville, Washington and Copenhagen, Denmark. Whitebridge had been a portfolio company of a Chicago-based private equity firm, Frontenac, since 2014. Terms of the transaction have not been disclosed.
Whitebridge Pet Brands, led by CEO Olivier Amice, was founded in January 2015 with the merger of Cloud Star, a pet treat manufacturer and Petropics, maker of Tiki Cat and Tiki Dog pet foods. In April 2017, Whitebridge Pet Brands acquired Dogswell, a functional jerkies for dogs brand. In January 2020, the company acquired Cardinal Pet Care, maker of Pet Botanics and Crazy Dog training treats. And in March 2021, Whitebridge Pet Brands completed the acquisition of Grizzly Pet Products, a leader in pet supplements.
“The new combined scale and footprint will allow us to continue to build our platform and accelerate our development, with more innovation, geographic expansion and new acquisitions,” said Olivier Amice, CEO of Whitebridge, said in a press release.
“During our ownership, Whitebridge completed five acquisitions and we invested in scaling the organization which enabled the company to achieve exceptional organic growth through a combination of innovation and expanded points of distribution in North America and globally,” Walter Florence, managing partner of Frontenac, said in a press release.
“We share their strong nutritional philosophy of minimally processed, natural pet food, and we are excited to continue the journey with a focus on pet health, innovation and strong partnerships with distributors and retailers around the globe,” Jamie Hong, managing director of NXMH, said in a press release.
Related pet food industry mergers and acquisitions
Whitebridge Pet Brands acquires Cardinal Pet Care
January 27, 2020
Whitebridge Pet Brands, a maker of natural and minimally processed pet foods, treats and complements, completed the acquisition of Cardinal Laboratories, Inc.
Whitebridge Pet Brands acquired Arthur Dogswell
April 19, 2017
Whitebridge Pet Brands, a natural and minimally processed pet food company, completed the acquisition of Arthur Dogswell.
Cloud Star, Tiki brands merge to form Whitebridge Pet Brands
January 27, 2015
Cloud Star is merging with the Tiki pet brands of Petropics Gourmet Whole Foods to form Whitebridge Pet Brands.
