LOS ANGELES — Petmate, a manufacturer of pet products and treats based in Arlington, Texas, has been acquired by Platinum Equity. Financial terms of the agreement were not disclosed.
Petmate was founded in 1959 as Doskocil Manufacturing, with its first product being a dog kennel. Since it was founded, the company has grown to produce a range of pet products, including treats and chews, accessories, toys and other dog products, which are sold through big box pet retailers, mass merchandisers, farm and agriculture retailers, pet specialty stores and e-commerce retailers.
“Petmate has been a leading innovator in pet products for more than 60 years and has an outstanding portfolio of respected brands,” said Adam Cooper, managing director at Platinum Equity. “The US pet market has grown steadily for the past 20 years and the secular trends driving it are expected to continue. The company’s vertically integrated manufacturing capabilities and domestic footprint help ensure an efficient and reliable supply chain, which is more important than ever in today’s environment.”
The company’s brand portfolio currently incudes Chuckit!®, Pet Qwerks®, Healthy Chews™, Gamma2®, JW® and, La-Z-Boy®. Alice Tillett, chief executive officer of Petmate, will continue to lead the company following the acquisition.
“We are so excited to join Platinum’s portfolio of industry leading companies,” Tillett said. “The pet industry in general and Petmate specifically are extremely well positioned for success. With the support of Platinum Equity and a strong core team at Petmate, we are confident and energized to enter our next phase of growth.”
Platinum Equity stated it will pursue opportunities for organic growth, using its resources to support the further expansion of Petmate.
“Petmate is a strong platform of scale operating in a highly fragmented industry,” Cooper added. “With our financial, operational and M&A resources, we will support the company in its pursuit of further growth through additional acquisitions. There are significant near-term opportunities to broaden Petmate’s capabilities, diversify its product portfolio and blue-chip customer base, and accelerate its expansion in the fast-growing e-commerce channel.”
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