Animal Supply Company, the national leader in pet food and supplies distribution, is pleased to announce that Summit Partners (“Summit”) and certain funds managed by Goldman Sachs Asset Management, L.P. (“Goldman Sachs”) have acquired a majority stake in the company.
In addition, Goldman Sachs and Summit have provided significant operating and growth capital investment to support the execution of ASC’s strategic plan.
“We are so appreciative of our independent pet retailers, vendors and employees for partnering with us on this journey, especially during this process,” said Don McIntyre, Chief Executive Officer of Animal Supply Company. “Our team is excited to work with Goldman Sachs and Summit as we look to renew and transform our business. Together, we will take our Company to the next level in customer care, digital innovation and growth.”
Randy Reber, current Chairman of the Board and one of the original founders of ASC, has joined the new Board of Managers moving forward. “I’m very excited for the future of Animal Supply Company and the opportunity to continue to work with Don and an outstanding management team,” said Reber. “This transaction provides the financial and physical foundation upon which we can continue ‘Delivering Success’ to pet specialty independent retailers. This has always been our guiding principle from day one and will continue to be.” Reber, along with certain other former owners of the Company, will remain minority shareholders.
By Lindsay Beaton
While dogs and cats continue to reign supreme, the growth of the “other” pet space can’t be denied: 9.9 million homes own a bird, 6.2 million homes have a small pet (usually small mammals) and 5.7 million homes own a reptile.
By Lindsay Beaton
Pet owners with birds, small mammals and other types of non-dog/cat animals are demanding the best for their feathered, furry or scaly friends.