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CBD Firm Closes on $47M Acquisition of Holistic Pet Food Company

Halo is a natural pet food brand with a 30-year operating history.

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NEW YORK — Better Choice Company Inc., an animal health and wellness CBD company, announced the closing of its acquisition of holistic pet foods company Halo, Purely for Pets and $28 million financing.

Halo is a natural pet food brand with a 30-year operating history. Halo’s products consist of a diversified dog and cat portfolio, derived from real whole meat and no rendered meat meal. E-commerce is Halo’s largest and fastest- growing distribution channel, complementing its brick-and-mortar presence in leading U.S. retail outlets, including PetSmart and Petco.

Plans for the acquisition were announced in October.

The Halo acquisition fits with the animal health and wellness strategy of Better Choice with its existing brands that include direct-to-consumer premium dehydrated raw pet food through TruDog, Orapup, TruCat and Rawgo, as well as hemp-derived CBD pet products.

As part of the transaction, Halo CEO Werner Von Pein and Chief Strategy Officer Rob Sauermann, will remain part of the team to lead the operations of this subsidiary, continue to grow distribution via e-commerce, explore food/drug/mass channel expansion opportunities and maintain revenue internationally.

Total consideration for the Halo acquisition is about $46.9 million.

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“We are pleased to close on our financing and welcome Halo to the Better Choice portfolio of premium animal health and wellness brands,” said Damian Dalla-Longa, CEO of Better Choice. “Halo will add to our existing consumer product goods portfolio a global, e-commerce presence as well as operational, financial and commercial synergies. The addition of Werner and Rob will add depth to our team and provide us invaluable strategy and insight going forward.”

“Rob, myself and the rest of the Halo team are eager to join Better Choice in our shared mission to provide better health options for animals,” said Werner von Pein, CEO of Halo. “As part of Better Choice, we will focus on expanding our company’s footprint providing a greater reach of our quality holistic pet foods.”

Total consideration for the acquisition includes $23.5 million in cash, $15 million in junior subordinated purchaser notes and $8.5 million of common equity.

Additional details:

Under the terms of the offering, Better Choice Company has closed on $28 million in aggregate principal amount of Senior Secured Credit Facilities. Interest on the Notes will have a 12% annualized cash interest payable monthly, maturing 12 months from the date of issuance with no prepayment penalty. The financing is also accompanied with $20.0 million of personal guarantees from Insiders and key Stakeholders.

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Dog and Goat Compete to Be Town’s Pet Mayor

The election is set for March 3.

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A dog and a goat are battling for the role of honorary mayor of Fair Haven, VT.

Lincoln the Nubian goat won the title last year, The Associated Press reports. The election was a way to get children involved in civic life and to raise funds for rehabilitation of a playground.

Now the incumbent has some competition. The police department has entered German shepherd K-9 Sammy in this year’s race. Sammy is well known around town for visiting schools and community events.

Residents will pay $1 each to vote in the pet mayoral election, which is set for March 3.

The winner of the race “marches in parades, manages the playground fund, and on occasion meets with the Board of Selectmen, just to keep an eye on them,” said Town Manager Joe Gunter.

Read more at the The Associated Press

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Delta Rolls Out High-Tech Carrier At $850 Per Flight

It’s being offered at eight US locations.

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Delta pet travel

Delta is rolling out a pet travel carrier called CarePod with features such as a built-in hydration system and real-time updates throughout the journey.

CarePod will be exclusively offered at eight U.S. locations: Atlanta, Boston, Los Angeles, Minneapolis, New York (JFK and LaGuardia), San Francisco and West Palm Beach. There will then be a phased approach to roll out the CarePod pet travel carrier across Delta’s U.S. network, according to a press release from the airline.

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The introduction comes after five years of research, development and testing, on top of a successful two-month trial, according to the release.

“Continuous innovation is in Delta’s DNA and the launch of the CarePod pet travel carrier, an industry first, is an example of us seeking out innovative partnerships and looking at ways to improve the customer experience throughout all parts of their journey,” said Shawn Cole, vice president — Delta Cargo. “As the only airline to offer this premium pet travel solution, it represents a significant improvement for the millions of people who want to travel with their four-legged family members.”

CNN reports that the CarePod “is roughly under two feet high and large enough for a dog up to 50 lbs.” and that the cost to book on is $850.

Delta explains that CarePod’s features include:

  • Stronger, industrial strength walls that are insulated to protect your pet against potential temperature fluctuations when moving between different climates and travel conditions.
  • Multi-layered windows and doors with specially angled blinds to help create a calming environment for pets by blocking out visual stress from unfamiliar environments.
  • The world’s first built-in hydration system for pet travel carriers, holding up to a liter of water that will auto replenish the spill-proof water bowl to ensure pets always have easy access to fresh water.
  • A powerful, enterprise level GPS tracking and monitoring system that connects your pet’s journey directly to the specialized Delta Cargo Control Center. The Center is managed 24/7/365 by trained experts who supervise and digitally monitor every CarePod pet journey from beginning to end, with the expertise and authority to send out the right staff on the ground to check on the pet if needed.
  • Seamless connectivity that enables you to use your mobile phone to view your pet’s key travel updates throughout their entire journey via deltacargo.com
  • CarePod pet travel carriers are made to the highest quality and standard, with human grade materials that are non-toxic, UV and antibacterial treated for longer lasting strength and protection.

The CarePod can accommodate dogs and cats permitted in a 300 series crate or smaller, and can be booked between three and 13 days prior to departure. The CarePod can be booked by visiting deltacargo.com or by calling Delta’s Cargo Customer Service Center at 1-800-352-2746.

“We’re thrilled that pet owners can now vacation and fly their pets with Delta’s best-in-class CarePod solution, having the peace of mind that their pets are protected in smart pet travel carriers, that are also digitally supervised by the Delta Cargo Control Center throughout the entire journey,” says Jenny Pan, founder and CEO of CarePod. “With the Delta partnership, we aim to raise the benchmark for pet air travel to allow families and pets to stay connected and travel safely together.”

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The airine notes:

Delta’s team of specialists and staff veterinarian constantly review processes and policies to identify areas of improvement to ensure the safety and health of pets. The airline has specially trained ground handlers who take care of pets at every step of their journey. Delta also has temperature-controlled holding areas and vehicles in numerous locations and overnight kenneling services.

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Dog Wanted: DOGTV Seeks Chief Puppy Officer

The winning candidate could become Instafamous.

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LOS ANGELES — DOGTV, a 24/7 digital TV channel for dogs, announced that it is looking for dog candidates to serve as the first-ever Chief Puppy Officer this year.

“We are thrilled to offer pet parents this unique chance to make their dog a pet influencer on Instagram,” said Beke Lubeach, general manager at DOGTV. “We’ve partnered with several popular social media influencers to provide the CPO’s dog parent with insight, tips, and training to help grow their pet’s Instagram account. This is our first time selecting a CPO and we look forward to working with the winner to spread the word about bringing joy to pups through DOGTV.”

The full benefits awarded for the dog selected as CPO include:

To be considered for the role of CPO, applicants must meet the following qualifications:

  • Be a pup of any age.
  • Be a fan of DOGTV.
  • Have an Instagram account (or their person needs to be willing to create one).
  • Love their human unconditionally and live to make them happy.

This contest coincides with DOGTV’s first-ever puppy takeover, called Puppies Gone Wild. During the week leading up to the Big Game on Feb. 2, puppies are taking over the channel. DOGTV is accepting applications for the CPO from now through Saturday, Feb. 1, at DOGTV.com/puppies. Applicants are encouraged to have their family and friends vote to increase their chances of being selected as the CPO. The identity of the dog selected to serve in this role will be revealed on DOGTV’s Instagram on Tuesday, Feb. 4.

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