MISSISSAUGA, ONTARIO — Dane Creek Capital Corporation (DCCC) on March 26 announced it has acquired Tollden Farms Inc., a Canada-based manufacturer of raw pet food, through one of DCCC’s subsidiaries, United Raw Pet Foods Inc.
Tollden Farms was purchased for 1.1-times its past 12-month revenues, according to DCCC. No other financial details were disclosed.
This marks United Raw Pet Foods’ fifth acquisition in the frozen raw pet food category in Canada over the past three years. The company also owns a minority stake in Pet Plate, a fresh, direct-to-consumer pet food company based in the United States, which it acquired in 2018.
According to DCCC, United Raw Pet Foods now owns the largest group of raw pet food companies in Canada, representing 10 brands that can be found in most pet specialty retail locations across the country.
Tollden Farms was created in 2002 by Annette and Kevin McAleer. The company uses human-grade meat and produce in its raw pet diets and customizable raw formulas.
“We are excited to now be part of the Dane Creek team,” said Annette McAleer, co-founder of Tollden Farms. “My husband and I built this company around our passion for the health of companion animals and we are proud of the quality and care that goes into each and every batch of our food. United Raw shares our values and we believe this transaction is the best way for us to take Tollden Farms from a top regional raw pet food to a national leader.”
Annette McAleer will join DCCC and continue to lead Tollden Farms following the acquisition.
Tollden Farms’ manufacturing facility in Kemptville, Ontario will continue operations under United Raw Pet Foods. The company owns three other raw pet food manufacturing locations in Alberta, Saskatchewan and Ontario.
“Over the last several weeks we have witnessed a dramatic shift in consumer buying habits, many of which we believe will outlast the current health crisis being faced by Canadians,” said Mark Warren, chairman and chief executive officer of DCCC. “While we are not naive about the long-term impact on the overall Canadian economy, we also believe that the sudden and significant growth in the ‘stay at home economy’ witnessed recently will outlast the current economic turmoil and benefit the pet industry specifically.
“Pet ownership is central to that economy as people stay close to home and ‘nest’. Dogs and cats are family and as such play an important role in reducing overall stress in these tougher times. The Tollden Farms brand is loved and trusted by Canadian pet owners and as such is only set to grow further in this current environment,” Warren added.
United Raw Pet Foods is 70% owned by DCCC, with the remaining 30% owned by DCCC’s shareholders, according to the company.
DCCC’s other recent acquisitions in the raw pet food space include Mountain Dog Enterprises Inc. in 2017, as well as Pets 4 Life, Naturawls Pet Products and Natural Chow Pet Food Corp. in 2018.
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