The company also received new funding.
RICHMOND, VA — TDBBS LLC, a natural dog treats and chews business, has appointed Tim Hassett as its CEO.
The hiring of Hassett follows a growth investment in the company by middle-market private equity firm Bregal Partners, according to a press release. The investment was made in partnership with the company’s founder and management team, who remain significant shareholders in the business. Financial terms of the transaction were not disclosed.
Hassett joins the company from Beam Suntory, where he was president – Americas. He previously spent 10 years at Campbell Soup as chief customer officer for the North America business, and also served at Kellogg’s and Procter & Gamble.
“I am very excited for the opportunity to drive value creation at an organization as dynamic as TDBBS,” Hassett said. “The company has enormous potential, and I look forward to working closely with Bregal Partners and the management team in further growing TDBBS.”
Bregal Partners’ managing partner, Charles Yoon, said, “We are thrilled Tim has joined the TDBBS team and are confident he is the right leader for the business. He is a world-class consumer-focused executive who has proven his ability to execute his vision and strategy while continuously inspiring those around him.”
TDBBS, founded in 2007, provides natural dog treats and chews through a portfolio of brands, including Best Bully Sticks, Barkworthies and Paw Luxury. In recent years, growth in the U.S. market for pet treats has outpaced the more mature pet food and supplies markets, the release notes. Within pet treats, the natural and “occupational” chews category has been a key contributor to this growth. Items such as bully sticks, antlers and other natural chews provide alternatives to rawhide, synthetic treats and more traditional baked items.
Avrum Elmakis, TDBBS’s founder, said, “We are incredibly excited to bring Tim on board and to partner with Bregal. The Bregal team has many years of experience in the pet industry, which will prove to be an invaluable asset to the company going forward. I have never been more excited about the growth prospects of the business, and I think we have an opportunity in the coming years to truly establish ourselves as the clear leaders in the natural chews category.”
Investment bank Harris Williams & Co. represented TDBBS, while Dechert LLP provided legal counsel to Bregal Partners on Bregal’s investment in TDBBS. BMO Sponsor Finance provided debt financing for the transaction.