Targeted PetCare Acquires Pet Brands
Acquisition expands Targeted PetCare’s capabilities in high-growth pet treat categories
Chicago, Ill. and Warren, Pa., January 19, 2024 – Targeted PetCare (“TPC”), a Wind Point Partners portfolio company and pet consumables platform, is pleased to announce it has acquired Pet Brands (the “Company”), a high-growth pet treats business. The acquisition of Pet Brands significantly broadens TPC’s pet treat portfolio and adds complementary sourcing, design and packaging capabilities.
Pet Brands is a leading provider of both private label and branded dog and cat treats across a variety of natural categories including jerkies, soft chews, dental chews, purees and premium bones. Since its founding in 2004, Pet Brands has established itself as a trusted innovator and reliable channel partner to leading grocery, mass and e-commerce retailers.
Matt Miller, CEO of Targeted PetCare, commented, “Pet Brands has developed high-value-add capabilities and strong brands in attractive pet treat categories. The Company’s full-service model across innovation, product development and sourcing provide a differentiated solution for leading retailers and pet parents alike. We are very excited about the partnership and look forward to Pet Brands’ continued success under TPC’s ownership.”
Tom O’Brien, CEO of Pet Brands, added, “We’re thrilled to be partnering with Targeted PetCare. Our combined offering creates a truly unique value proposition for our customers, and we believe the scale of the TPC network will be a meaningful enabler for Pet Brands’ future growth.”
Paul Peterson, Managing Director at Wind Point, commented, “A core pillar of the Targeted PetCare value creation plan has been broadening the company’s capabilities across pet consumables through M&A. The acquisition of Pet Brands is closely aligned with this strategy, and we look forward to supporting the growth of the combined businesses.”
Antares Capital and Maranon Capital led the debt financing for the transaction. Kirkland & Ellis LLP served as legal counsel to TPC and Forvis provided transaction advisory services in connection with the acquisition. William Blair acted as the exclusive financial advisor to Pet Brands. The acquisition of Pet Brands marks TPC’s fifth acquisition under Wind Point ownership.