MALMÖ, SWEDEN — Swedencare AB’s subsidiary Pet MD Brands, Inc. announced Jan. 2 its acquisition of Riley’s, a supplier of organic, premium dog treats for 78.4 million SEK ($7.5 million USD). The acquisition is set to establish Swedencare in the dog treat market within the United States.
Swedencare originally acquired 30% of Riley’s at the beginning of the fourth quarter in 2023, and has made the decision to buy the remaining 70% of the company this year.
Based in Odessa, Fla., Riley’s specializes in premium dog treat offerings, which include organic varieties and single-ingredient formulas in jerky and baked biscuit formats. The company also offers nutritional supplements targeting skin and coat health, ear care, liver support and more in dogs. According to Riley’s, its net revenue from the last fiscal year, January to December 2023, was approximately $3.2 million.
“Through the acquisition of Riley’s, we have now entered the fast-growing organic treat market in North America,” said Brian Nugent, chief commercial officer of Swedencare North America. “Pet parents have made organic pet treats one of the fastest growth categories and entering this category will allow Swedencare to utilize the Pet MD Brands team and technology to accelerate the excellent above industry growth both Riley’s and Pet MD Brands have seen throughout 2023.
“We see exciting opportunities to quickly add Riley’s high-quality, organic and premium products and cross-sell into the US veterinary and the US pet retail markets through our existing North American brands,” he concluded. “In addition, we are exploring expanding the range internationally through other Swedencare subsidiaries.”
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