The firm makes CanineOmega3 and FelineOmega3.
MISSISSAUGA, ON — Dane Creek Capital Corp., a merchant bank with a focus on pet industry investments, is acquiring the non-manufacturing pet assets of Nature's Way Canada.
Based in Dartmouth, Nova Scotia, Nature's Way is a manufacturer of supplements for dogs and cats sold under the CanineOmega3 and FelineOmega3 brands. Both supplements are available online or via retailers in Canada and the U.S.
Under the terms of the agreement DCCC will acquire all current and future formulations of CanineOmega3 and FelineOmega3, all material contracts, customer lists and current inventories. Additionally, the two parties have entered into a six-year contract whereby Nature's Way will continue to manufacture supplements for DCCC.
The purchase of these assets by DCCC will be completed via its wholly owned Nova Scotia-based holding company Dockside Investco. A new operating subsidiary will be created by DCCC to coincide with closing.
Financial terms of the deal were not disclosed.
"We are excited to be making this announcement," said Glen Tennison, president and chief financial officer of DCCC. "Nature's Way is well known for manufacturing high quality supplements for both people and pets. We look forward to working with them to create a wide range of supplements to meet the needs of health-conscious pet owners shopping online, in pet specialty retail stores and in mass retail and grocery stores."
"Our partnership with DCCC will allow Nature's Way to focus more closely on the development and manufacturing aspect of our business," said Steve Chiasson, vice president and general manager of Nature's Way Canada. "Our track record in human supplements speaks to our expertise in those areas and we look forward to bringing that to the expanding market for pet supplements."
The transaction, which is subject to customary closing conditions, is expected to be completed by Sept. 30.