Week of August 4th News:

Study: Pet Owners Prefer Tougher Breeder Standards Over Pet-Sale Bans. Dog and cat owners think the best way to crack down on illegal puppy mills is to enact and enforce tougher breeder standards, according to a recent study. According to the poll, 89 percent of U.S. adults say the solution to puppy mills is to have tougher breeder standards that crack down on illegal operator, while 81 percent of U.S. adults say banning dog sales entirely at pet stores will not stop puppy mills from continuing.

Read more at – http://www.petage.com/study-pet-owners-prefer-tougher-breeder-standards-over-pet-sale-bans/

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Mergers & Acquisitions: Mars acquired Proctor & Gambles pet food buisiness

Date: August 1, 2014

Buyer: Mars

Seller: Proctor & Gambles

Price: Undisclosed

Terms: Acquisition

Mars completed the acquisition of Proctor & Gambles pet food business, including the Iams, Eukanuba, and Natura brands in North America, Latin America and other select countries. This follows an agreement announced by the companies in April 2014 and receipt of all necessary regulatory approvals. In addition, Mars also announced that it will exercise the option to purchase P&G’s pet food business in some parts of Asia Pacific, Middle East and Africa, including Australia, Japan and Singapore. This move reinforces the company’s strategic intent to build its presence in emerging markets and will enable Mars Petcare to meet the needs of more customers and pets around the world. Mars expects that the close for these additional businesses may take up to around a year, subject to regulatory approvals.

The P&G brands join Mars Petcare established brands, of Pedigree, Whiskas, Royal Canin, Banfield, Greenies,  and Nutro.

Based in McLean, Virginia, Mars has net sales of more than $33 billion, six business segments including Petcare, Chocolate, Wrigley, Food, Drinks, Symbioscience, and more than 75,000 Associates worldwide that are putting its Principles into action to make a difference for people and the planet through its performance. – See more at: http://news.pg.com/press-release/pg-corporate-announcements/mars-incorporated-buy-significant-portion-procter-gambles-p#sthash.8IUBusBM.dpuf

P&G serves approximately 4.8 billion people around the world with its brands. The Company has one of the strongest portfolios of trusted, quality, leadership brands. The P&G community includes operations in approximately 70 countries worldwide. – See more at: http://news.pg.com/press-release/pg-corporate-announcements/mars-incorporated-buy-significant-portion-procter-gambles-p#sthash.8IUBusBM.dpuf

Read more at – http://www.petage.com/mars-completes-acquisition-of-pgs-pet-food-business/

 

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Mergers & Acquisitions: NorthStar Investors acquired Pet Buddies

Date: July 18, 2014

Buyer: NorthStar Investors

Seller: Pet Buddies

Price: Undisclosed

Terms: Acquisition

Pet Buddies has been acquired by NorthStar Investors. “The acquisition of Pet Buddies was a natural for the company,” said Sean Rowe, general manager for Pet Buddies. “We have been in the pet industry for more than a decade and are thrilled to have taken on this unique, high-quality line of pet toys and grooming products for dogs and cats.”

Sean Rowe has spent the past 13 years in the pet industry. His primary achievement in that time was the growth and development of Veterinary Ventures, Inc., makers of the Drinkwell brand of pet water fountains. Sean Rowe designed and developed more than a dozen new products, was awarded six patents and grew sales ten times before the company sold to PetSafe.

Read more at – http://www.petage.com/northstar-investors-acquires-pet-buddies/

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Growth Capital: Rosser Capital Partners invests in PetPeople

Date: July 28, 2014

Buyer: Rosser Capital Partners

Seller: PetPeople

Price: Undisclosed

Terms: Investment

CIT Group Inc. (NYSE:CIT) cit.com, a leading provider of commercial lending and leasing services, today announced that it provided a senior secured credit facility to support Rosser Capital Partners’ significant investment in PetPeople, a specialty retail pet supply store that focuses on high quality, natural pet food. Financing was provided by CIT Bank, the U.S. commercial bank subsidiary of CIT. Terms of the transaction were not disclosed.

Rosser Capital Partners is a lower middle market investment firm with a focus on investing in restaurant, consumer and retail companies that demonstrate significant growth potential and can benefit from strategic and operational enhancements. Rosser Capital Partners supports its management teams by providing access to a wide network of strategic industry contacts, active lending institutions, consultants, and additional management and operational resources. Over the last 20-plus years, the principals of Rosser Capital Partners have completed 25 consumer transactions. Rosser Capital Partners is headquartered in Greenwich, CT.

PetPeople is a specialty retail pet supply store, focusing on high quality, natural pet food. The Company differentiates itself from competitors in the industry by being a neighborhood place for natural foods and quality supplies for dogs and cats. They hire pet enthusiasts who engage and educate customers by sharing ideas and providing solutions to their problems. As of December 2013, the Company operated 20 stores in three states (Ohio, Michigan, and Indiana).

Read more at – http://online.wsj.com/article/PR-CO-20140728-904806.html

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