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Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Omnipet, LLC (dba “PetFlow”), an online retailer of pet food and supplies, on its acquisition by Phillips Feed Service, Inc. (dba “Phillips Pet Food & Supplies”).
Phillips Pet Food & Supplies is one of the nation’s largest distributors of pet food and supplies to the independent retail channel. PetFlow is one of the ten largest online retailers in the category, and the second largest independent operator.
“This transaction is reflective of the broader consolidation thematic in pet retail as market leaders position themselves for success in an omni-channel world,” said Bryan Jaffe, Managing Director and co-head of Cascadia Capital’s Consumer & Retail practice. “The acquisition of PetFlow by Phillips uniquely positions the acquirer as a provider of ecommerce capabilities to its customer base of independent specialty retailers, many of whom do not possess the capital or expertise to compete in digital. Over time, this transaction can help Phillips customers compete more effectively.”
“Michael Lackman and his team did an excellent job positioning the business for a sale transaction,” he adds. “This deal validates the hard work PetFlow has undertaken over the past 12 months.”
The acquisition represents another successful transaction for Cascadia’s Consumer & Retail practice, and specifically in the pet industry. Past transactions include the acquisitions of NutriVet, Manna Pro Products, and Zukes, among others. Cascadia has now participated in the sale of three pet ecommerce platforms, including Pet360, and Only Natural Pet Store.
For more information about this transaction, please contact the Cascadia Capital Consumer & Retail team:
Bryan Jaffe
Managing Director
bjaffe@cascadiacapital.com
(206) 436-2534
John Siegler
Managing Director
jsiegler@cascadiacapital.com
(206) 436-2550
Erik Einwalter
Senior Vice President
eeinwalter@cascadiacapital.com
(206) 436-2538