SAN FRANCISCO — Private equity firm Gryphon Investors acquired Vetnique Labs on April 20. Vetnique produces a variety of specialty pet products including functional supplements to support cats and dogs. Financial terms of the transaction were not disclosed.
Headquartered in Naperville, Ill., Vetnique was founded by James Bascharon, DVM, chief executive officer of the company. The company offers nine brands of unique, veterinary-developed products that are sold around the world through direct-to-consumer, specialty retail and veterinary distributor channels.
“We are delighted to join the team at Gryphon as we enter our next phase of growth,” Bascharon said. “Gryphon is an ideal partner given the firm’s experience in pet and consumer health and its track record of working with professionally recommended brands. We believe this investment will allow us to accelerate the incredible momentum we have built over the last few years.”
Following the acquisition, Bascharon will maintain his current role and hold a significant stake in Vetnique.
“We look forward to partnering with James and his outstanding team at Vetnique, and can't wait to get to work,” said Eddie Douglas, principal in Gryphon’s consumer group. “After many years of evaluating the overall pet space, we are excited to support Vetnique's efforts to build the premier pet health and wellness platform. We are impressed with the business to date and are honored to welcome such a unique brand into the Gryphon family.”
The transaction represents Gryphon’s first foray into the pet product space and marks its second investment into the pet health and wellness category. Through the acquisition, Gryphon will invest in Vetnique, helping expand its product portfolio and geographic footprint while supporting its mission of furthering pet health.
“Vetnique occupies a unique position in the $2 billion pet supplement market as a company with innovative products benefitting from compelling tailwinds,” said Mike Ferry, operating partner at Gryphon. “As we continue to see increased use of supplements with companion animals, we believe that Vetnique will stand out as offering differentiated solutions that provide real and lasting benefits for pets.”
Douglas, Ferry and Matt Farron, partner and head of Gryphon’s consumer group, will join Vetnique’s board of directors.
“Vetnique is a perfect fit for Gryphon and leverages our proactive focus of investing behind differentiated brands in pet health,” Farron said. “We are proud to be working with such an innovator in a thriving sector and to be supporting the team as they build for the future.”
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