(PRESS RELEASE) MELBOURNE, FL – Pet Flavors, LLC (“Pet Flavors” or the “Company”), a market-leading producer of pharmaceutical grade flavor bases and palatants used in chewable pharmaceuticals for pets, and Bessemer Investors LLC (“Bessemer”), a New York-based investment firm, announced today that Bessemer has made a significant investment in Pet Flavors. Bessemer is partnering with the company’s founder, Mark Pieloch, who will remain with the Company as its President. Financial terms of the transaction were not disclosed.
Bessemer intends to establish Pet Flavors as its platform investment in the companion animal health industry.
Mr. Pieloch said, “We are very pleased to be partnering with Bessemer as we move toward the next stage in our growth. The Bessemer team is aligned with our values, and we believe their long-term and flexible approach will help us expand into additional products while continuing to strengthen our alliances with pharmaceutical and nutraceutical companies all over the world. We are proud of our role in keeping pets healthy and their owners happy.”
Founded in 1990, Melbourne, FL-based Pet Flavors provides flavor bases used in pharmaceutical and nutraceutical products consumed by pets. The flavor bases contain high-quality U.S.-sourced ingredients and are made exclusively at the Company’s USDA-licensed Melbourne facility. The flavor bases are tested by independent U.S.-based FDA/USDA approved laboratories to ensure that all physical, chemical and microbiological specifications are met and stability testing is consistently updated. Pet Flavors’ palatants are utilized by top animal health drug manufacturers in their FDA-approved pet medications due to the Company’s superior customer service, quality of production, and product palatability. In addition to its market-leading PC-0125 artificial beef product, the Company offers a variety of other flavors, including a newly developed hypoallergenic and vegan base flavor.
Andrew Mendelsohn, principal at Bessemer, said, “Pet parents want the experience of giving their pets medication to be as seamless as possible, which makes flavoring a key component of that relationship. Pet Flavors’ commitment to quality and execution as well as its strong relationships with top animal health and supplement companies have helped it establish a reputation as the leading manufacturer of flavor bases. We are excited to team with Mark and the Company to build on their 30-year history of market leadership, innovation and partnership with the leading global animal health companies.”
Capitalmind served as M&A advisor to Pet Flavors, while Greenberg Traurig, LLP served as legal counsel. Lincoln International served as advisor to Bessemer Investors, while Akin Gump Strauss Hauer & Feld LLP served as legal counsel. BMO is leading the debt financing for the transaction.