Tailored from a press launch:
Pure Steadiness, a premium specialty pet meals model, and Canidae, a premium, sustainable pet meals firm, introduced they’ve entered right into a definitive merger settlement below which the businesses will mix. The mix unites two specialty pet meals manufacturers with complementary but differentiated choices to drive innovation and progress for the good thing about pet dad and mom in every single place. Phrases of the transaction weren’t disclosed.
For greater than 30 years, Pure Steadiness has provided premium merchandise with high-quality, protein-forward components spanning pet food, cat meals and treats. Equally, since its founding 25 years in the past, Canidae has a wealthy historical past within the pet meals area, providing each canine and cat meals merchandise with a give attention to goodness for pets and the planet by regenerative agriculture and sustainable operations.
The mix will leverage each firms’ shared ardour for enhancing the well-being and lives of pets by easy diet, responsibly sourced components and protein-rich merchandise. The mixed firm’s flagship choices will embrace Canidae’s Pure, Goodness and All Life Levels, in addition to Pure Steadiness’s Restricted Ingredient (LI) and Authentic Extremely product strains.
Historical past of Pure Steadiness, Canidae, traders
As a part of the transaction, L Catterton, a number one world consumer-focused funding agency and majority shareholder of Canidae, and Nexus Capital Administration, another asset funding firm and majority shareholder of Pure Steadiness, are every contributing new progress capital to assist the profitable integration and strategic long-term enlargement of the mixed firm.
Based in 1989 by actor Dick Van Patten, Pure Steadiness has exchanged possession a number of occasions, first merging with Del Monte Pet Merchandise in 2014, which grew to become Massive Coronary heart Pet Merchandise and was acquired by J.M. Smucker in 2015. In late 2020, Smucker offered Pure Steadiness to Nexus Capital Administration. In 2021, the corporate had revenues of US$264 million, in accordance with the Prime Pet Meals Corporations Database.
Canidae launched its personal pet meals ingredient rising operation in Kansas in 2021. As a privately held firm, Canidae’s annual revenues haven’t been obtainable, in accordance with the Prime Pet Meals Corporations Database. The database reported the corporate had two services and 125 staff in 2021.
Statements from each house owners
“Each Canidae and Pure Steadiness have wealthy legacies, strong model recognition and powerful shopper affinity, and this mixture permits us to construct on the strengths of every firm,” stated Andrew Taub, managing associate, and Matt Lischick, associate, with L Catterton. “As a mixed firm, we can streamline manufacturing capabilities, put money into product innovation and construct on every firm’s partnerships with key pet retailers.”
“Pure Steadiness has a confirmed place as a pioneer within the premium specialty pet meals trade, and we’re assured that Canidae is the perfect associate to reinforce and speed up the model’s strategic progress following the previous two years as a stand-alone enterprise,” added Damian Giangiacomo, associate, and Jonathan Whitlock, supervisor director, with Nexus Capital. “Collectively, we are going to create high-quality merchandise anchored round premium, restricted ingredient formulation and profit from enhanced scale and a gifted workforce.”
