Scales Corporation Limited, a New Zealand agribusiness company, will acquire 60% of Shelby JV LLC for $23.2 million, expanding its business in the pet food industry. The deal is expected to close by the end of 2018.
“Shelby operates in a sector that we know and understand well,” said Andy Borland, managing director for Scales. “We are pleased and excited to be extending our existing pet food activities through this partnership with Shelby, its founder Brett Frankel, and its management team, all of which are very highly regarded in the market.”
Borland added the partnership will provide an in-market point of contact for customers in the US and New Zealand, as well as expand the range of proteins offered by Scales’ pet food ingredients division, Meateor, by adding approximately 80,000 metric tons in product sales.
“Shelby believes Scales is an ideal partner to help Shelby continue to move forward as a leading independent pet food ingredients processor,” said Brett Frankel, president of Shelby. “We are excited to partner with the Meateor and Scales team and look forward to leveraging the opportunities available to both businesses to grow the breadth of solutions that we offer to our customers.”
Frankel will retain a 40% share of Shelby after the acquisition is complete. Shelby is a large, independent US buyer, processor and supplier for pet food ingredients.
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