Mergers & Acquisitions: OurPet’s Co. buys Cosmic Pet Products

Date: July 30, 2010

Seller: Cosmic Pet Products

Buyer: OurPet’s Co.

Price: $800,000 (estimated)

Terms: Asset Acquisition

OurPet’s Co. purchased Cosmic Pet Products for roughly $800,000 in cash, debt payments and stock.  OurPet’s believes that Cosmic’s catnip toys will fill a gap in their prodcut line, and expects the deal to add $2.25 million in reveneu over the next year.

Leon Seidman, president and founder of Cosmic Pet echoes Tsengas’ sentiments. “This is a great day for our company,” he said. “We’ve had a lot of suitors interested in acquiring Cosmic Pet, but they didn’t feel right, primarily because we never felt comfortable about their shared commitment to quality. OurPet’s had exactly what we were looking for: a commitment to excellence and cat care, a passion for growth and innovation and a genuine concern for the future of our employees. We’re confident that 10 or 20 years from now, Cosmic Catnip is still going to stand for all of the good things that it stands for today, because OurPet’s is guided by the same principles that have shaped our company.”

Read Full Post »

Mergers & Acquisitions: Quarry Capital Management buys Royal Pet Supplies

Date: March 31, 2009

Seller: Royal Pet Supplies Inc.

Buyer: Quarry Capital Management

Price: undisclosed

Terms: Leveraged Buyout

Quarry Capital acquired Royal Pet Supplies for an undisclosed amount.  Quarry Capital targeted Royal Pet Supplies because of their strong 60-year history in the industry and healthy growth potential.

Read Full Post »

Mergers & Acquisitions: Riverside Company buys Tropikal

Date: July 15, 2010

Seller: Tropikal

Buyer: The Riverside Company

Price: undisclosed

Terms: Leveraged Buyout

The Riverside Company, a global private equity firm focused on acquiring small and medium-sized companies, acquired Tropikal, a manufacturer and marketer of pet foods for an undisclosed amount. Tropikal began making it’s own dryfood in 2005, becoming the first domestic petfood producer in Turkey. Riverside considers the investment to be a platform investment and expects to seek add-on acquisitions in the pet food industry.

“The Turkish pet food market is relatively young but growing at an exciting pace,” said Adam Pietruszkiewicz, Riverside’s vice president. “We’re delighted to keep contributing to Tropikal’s growth and development, reinforcing its market leadership position and expanding its product offering and further brand development in the years ahead.”

Tropikal’s founders will stay on as minority investors in the business with Riverside, while CEO Izzet Saban and other top management will stay with the company. “Our R&D capabilities and control of the manufacturing process allow us to deliver high-quality products that successfully compete with strong international brands,” Saban said. “We look forward to partnering with Riverside to expand organically and further increase the strength of our brands.”

Read Full Post »