Clearlake acquires WellPet dog and cat food, treats

Clearlake Capital Group, L.P. signed a definitive agreement to acquire WellPet, a maker of several pet food and treat brands.

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Adapted from a press release:

Clearlake Capital Group, L.P. signed a definitive agreement to acquire a maker of several pet food and treat brands, WellPet known as The Wellness Pet Food Holdings Company, Inc., from affiliates of Berwind Corporation. Financial terms of the transaction were not disclosed.

For more than 100 years, WellPet has been in business. The company is headquartered in Tewksbury, Massachusetts, USA. WellPet is global supplier of premium pet food and treats with brands including Wellness, Old Mother Hubbard, WHIMZEES, Eagle Pack, Holistic Select, and Sojos. WellPet is the largest independent North America-based pet food manufacturer, according to the company. It produces proprietary, exclusive formulations at its three facilities in Indiana, Minnesota and the Netherlands, supported by a supply chain spanning over 1.2 million distribution points across the globe. WellPet is led by CEO Camelle Kent-Rizkalla, who will be remaining with the company, and a team of more than 400 employees with deep experience in the pet food category.

Statements from company leaders

"We believe the current market tailwinds, enduring increase in pet ownership, and pet humanization dynamics offer a unique opportunity to meaningfully invest behind the Company and accelerate WellPet's near- and long-term growth objectives to serve pet parents in the best possible ways,” said José E. Feliciano, co-founder and managing partner of Clearlake. “We are eager to support the WellPet management team and bring together all of Clearlake's available resources to drive value creation, accelerate organic growth, and create a consolidation platform for the category."

"Clearlake's operational insights and deep experience in the consumer sector will accelerate our momentum in premium pet food and treat products and support our unwavering commitment to nutritional innovation, product quality for our partner retailers and pet owners, and the wellbeing of the pets that depend on our products,” Kent-Rizkalla said in a press release.

"We are excited to leverage our extensive experience investing in consumer brands, emerging food platforms, and health and wellness trends to the pet food and treats ecosystem," said Arta Tabaee, managing director of Clearlake. "We believe deploying our deep bench of operating partners and our O.P.S. value creation framework can drive accelerated growth at WellPet through best-in-class innovation, enhanced brand investment, and careful attention to the company's customers and retail partners."

WellPet was advised by Centerview Partners, and Clearlake was advised by Goldman Sachs & Co.

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