CHICAGO — Private equity firm Arbor Investments announced an investment in raw pet food manufacturer Carnivore Meat Co.
Terms of the deal were not disclosed.
“Carnivore has been blessed with incredible growth and we see acceleration at an even faster rate in the future,” said Carnivore CEO Lanny Viegut. “When we saw this opportunity to partner with a team who completely match us in culture, values and beliefs…and who share the same commitment to manufacturing premium quality food products, we just had to say, ‘YES!’ This partnership will help us stay ahead of the ever-increasing demand for our 100% raw protein products. Carnivore and Arbor are a perfect fit and the timing couldn’t be better. With our combined experience and expertise, along with Arbor’s resources, we will continue scaling quickly to stay ahead of the incredible demand curve for our ultra-premium quality raw pet foods and treats.”
Viegut and senior leadership of the company will continue in their operating roles.
Founded in Green Bay, WI, by Viegut in 2012, Carnivore is among the largest pure-play freeze-dried raw pet food producers in North America, manufacturing freeze-dried and frozen raw pet food, snacks and treats. Its brands including flagship brand Vital Essentials, Vital Cat, VE RAW BAR and the most recently launched Nature’s Advantage line. The company’s branded products are distributed to over 7,200 retailers in the U.S. and Canada, online including via Chewy and Amazon, and in 14 international markets. In addition, Carnivore is a partner to co-manufacturing and private label customers.
“The Carnivore team have developed distinctive products with a fanatical customer base,” said Arbor Partner Chris Tuffin. “The freeze-dry sector is seeing meteoric growth as pet parents learn about the unrivaled benefits of a raw diet. We look forward to bringing our resources and capital to help increase capacity and support the step-change acceleration in the Company’s growth.”
Arbor President Carl Allegretti said: “Lanny and his team have built something truly incredible, not only in terms of product, but in terms of a unique culture. The Carnivore team’s customer-centric approach and ‘find ways to say yes’ attitude across the organization is a clear driver of their tremendous success, and a seamless fit with Arbor’s hands-on approach. We couldn’t be more excited about our new partnership.”
The transaction marks the fourth platform investment for Arbor Fund V.