NEW YORK — Ownership of Manna Pro Products, a St. Louis-based manufacturer of specialty pet care products, has changed hands from one private equity to another. The Carlyle Group acquired a majority stake in Manna Pro on Nov. 6 from investment funds previously managed by Morgan Stanley Capital Partners (MSCP).
Financial details of the transaction were not disclosed. The firm’s $18.5-billion Carlyle Partners VII fund is responsible for investments of this acquisition.
Manna Pro was founded in 1842 and has since become an industry leader in nutrition products for dogs and cats, as well as other companion animals.
“We are grateful to have partnered with the extraordinary management team at Manna Pro during a period of tremendous growth as they advanced their position as a leading provider of pet health and nutrition,” said Aaron Sack, head of MSCP. “During MSCP’s ownership, Manna Pro built on its long history with strong organic growth and benefited from several critical companion pet acquisitions, including Fruitables, Hero Pet and most recently Doggie Dailies, that expanded Manna Pro’s online presence and created opportunities to reshape the supply chain and operations. We’re excited for Manna Pro to continue this positive trajectory as they enter a new phase with the exceptional team at Carlyle.”
“Strong execution and enduring category tailwinds are driving exceptional growth for Manna Pro, and we believe there is meaningful runway for continued expansion, both domestically and internationally,” said Jay Sammons, head of global consumer, media and retail at Carlyle. “With multiple avenues for future value creation, including growing the core business and increasing the scale of acquisitions, we look forward to supporting the Company’s growth plans with our differentiated global capabilities and resources.”
Since it was founded in 1987, Carlyle has invested more than$21.5 billion in consumer, media and retail companies globally.
“We are pleased to be working again with the team at Carlyle as we build on the substantial growth we’ve experienced in partnership with MSCP,” said John Howe, chief executive officer of Manna Pro. “Our business has evolved significantly over the past three years with the expansion of our high-quality product offering, increased investment in brand building, improved operations, and intense focus on growth and sustainability. With increasing demand for products that help pet parents care for and nurture their pets, we appreciate MSCP’s support in achieving our leadership position and look forward to working with Carlyle again as we continue our mission.”
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