January 21, 2016
We are pleased to announce that our client Petra Pet, Inc., has sold the company’s wellness assets, inclusive of the NutriVet brand, to Manna Pro Products, LLC a leading independent manufacturer and marketer of animal feed, supplements and care products for the equine and small companion animal markets. Cascadia served as the exclusive financial advisor to Petra Pet in this transaction.
“The acquired assets, inclusive of NutriVet, are one of the most attractive baskets of consumable wellness products for small companion animals,” said Cascadia Capital Managing Director Bryan Jaffe. “NutriVet has a long history of market leading innovation in the category, which was reflected by the breadth of buyer interest exhibited during our process. This acquisition will open up new product categories for Manna Pro, as well as new channels to the acquired product line. Our historical relationship with Manna Pro was critical in maximizing value for the sellers.”
This transaction provides further validation of the current consolidation cycle within the pet industry. It specifically highlights the convergence of the equine and small companion animal sub-verticals, as manufacturers seek to address the broadest set of pet parents.
Manna Pro represents another successful transaction for Cascadia Capital in the companion animal space. Recent transactions include the acquisition of Manna Pro, the acquisition of Pet360, and the growth financing of I and Love and You.
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