According to NaturVet, its 2020 sales were $48.4 million, while sales from October 2020 to September 2021 were $60.6 million. Swedencare purchased the company for $400 million in cash and with an issue-in-kind of $47.5 million shares.
Founded in 1994 by Garmon Corp., NaturVet has a portfolio of therapy supplements for pets targeting joint, digestion and allergies. The company’s facility in California produces powders, liquids, chews and soft chews in about 20 different pet health categories. Currently, the company has plans to launch a new product series in 2022 featuring superfoods.
“NaturVet is a dream partner and the acquisition means that we take a big leap towards our goal to become a leading global pet healthcare group within nutraceutical and dermatology premium products to pets and companion horses,” said Håkan Lagerberg, chief executive officer, Swedencare. “Through the acquisition, we get a broad, well known and appreciated product portfolio, a high-quality product facility that can be considered a leader in soft chews and fantastic customer coverage in the US as we now add to our approximately 15,000 veterinary clinics the same number of pet shops while increasing our online share significantly.”
NaturVet’s Founder and Chief Executive Officer Scott Garmon, along with his management team, will continue leading the company.
“I am excited about our transaction with Swedencare as it will enhance our ability to introduce new categories from the Swedencare Group offerings and continue to grow our industry leading products like ArthriSoothe, Quiet Moments, GrassSaver and No Scoot,” Garmon said. “NaturVet will also be completing our third soft chew line, increasing production capacity by 100%, thus allowing us to lead the industry with our 98% fill rate.”
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