LONDON — A group of existing Nulo investors have been bought out by funds managed by global private equity firm Apax Partners LLP.
Apax announced May 13 it had reached an agreement with the “ultra-premium” pet food company’s previous investors, CAVU Venture Partners and Main Post Partners, to purchase their shares of the company in a deal expected to close in June 2021.
“We’re excited to partner with the Apax Funds, who have the experience and know-how to help us in our next phase of growth,” said Michael Landa, chief executive officer of Nulo. “Since its retail launch in 2011, Nulo has rapidly grown into one of the most authentic and differentiated consumer brands in the premium pet food space. With the support of the Apax Funds, we believe we can achieve our ambitious growth plans, offering our innovative food products to more pet-parents, in more locations around the world.”
Apax will work alongside Nulo’s management team to accelerate growth, focusing on a few key areas. These include expanding the company’s digital marketing operations and expanding its international footprint.
“Nulo is a true pioneer when it comes to delivering high-quality, nutritious pet foods and we have long been impressed by the company’s exceptional product offering, which we believe is unrivalled in the market,” added Nick Hartman, partner at Apax. “The company boasts a leading position in an attractive sector, and we look forward to working closely with Michael and the Nulo team, leveraging the Apax Funds’ deep operational experience, to further unlock the company’s vast potential.”
Austin, Texas-based Nulo was founded in 2010 and has since grown in the premium pet food and treat space. Today, the brand offers a variety of dry, wet and freeze-dried raw pet foods, as well as meal toppers, treats and liquid hydration supplements.
Nulo strives to formulate pet nutrition products that are high in animal-based protein and low in carbohydrates. The company distributes to more than 5,000 retailers across North America and its products are also available through e-commerce platforms.
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