UPLAND, CALIF., and STAMFORD, CONN. – Natural Balance, a pet specialty premium brand, and Canidae Pet Foods, a premium pet food producer, announced March 22 that they have entered into a definitive merger agreement to combine the two companies. Terms of the transaction were not disclosed.
As part of the transaction, L Catterton, a consumer-focused investment firm and majority shareholder of Canidae, and investment firm Nexus Capital Management, majority shareholder of Natural Balance, are each contributing new growth capital to support the merger.
"Both Canidae and Natural Balance have rich legacies, solid brand recognition, and strong consumer affinity, and this combination allows us to build on the strengths of each company,” said Andrew Taub, managing partner, and Matt Lischick, partner, at L Catterton. “As a combined company, we will be able to streamline manufacturing capabilities, invest in product innovation, and build on each company's partnerships with key pet retailers. We are excited to leverage our deep experience investing in the pet category to position our new platform as a leading provider of premium pet food."
Natural Balance has offered premium dog food, cat food and treats for more than 30 years. Similarly, Canidae was founded 25 years ago with an emphasis on producing premium dog and cat food products through regenerative agriculture and sustainable operations. The merger of the two companies will bring together a shared passion for improving the wellbeing and lives of pets through premium nutrition.
"Natural Balance has a proven position as a pioneer in the premium specialty pet food industry, and we are confident that Canidae is the ideal partner to enhance and accelerate the brand's strategic growth following the past two years as a stand-alone business,” said Damian Giangiacomo, partner, and Jonathan Whitlock, managing director, at Nexus Capital. “Together, we will create high-quality products anchored around premium, limited ingredient formulas, and benefit from enhanced scale and a talented workforce. Natural Balance and Canidae share a commitment to nurturing the health of both our pets and our planet and we look forward to offering even greater choice and value to our customers."
The new company’s flagship brands will include Canidae's Pure, Goodness, and All Life Stages, as well as Natural Balance's Limited Ingredient (LI) and Original Ultra product lines.
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