Clearlake Capital Group LP announced that it will acquire The Wellness Pet Food Holdings Co. Inc. from affiliates of Berwind Corp.
Financial terms of the deal were not disclosed.
Headquartered in Tewksbury, MA, WellPet is a global supplier of premium pet food and treats with brands including Wellness, Old Mother Hubbard, WHIMZEES, Eagle Pack, Holistic Select and Sojos. The “is uniquely positioned as the largest independent North America-based pet food manufacturer, producing proprietary and exclusive formulations at its three state-of-the-art facilities in Indiana, Minnesota, and the Netherlands, supported by a supply chain spanning over 1.2 million distribution points across the globe,” according to a press release. WellPet is led by CEO Camelle Kent-Rizkalla, who will be remaining with the firm, and has a team of over 400 employees.
“We are thrilled to partner with WellPet during such a pivotal time in the premium pet food and treats category,” said José E. Feliciano, co-founder and managing partner of Clearlake. “We believe the current market tailwinds, enduring increase in pet ownership, and pet humanization dynamics offer a unique opportunity to meaningfully invest behind the Company and accelerate WellPet’s near- and long-term growth objectives to serve pet parents in the best possible ways. We are eager to support the WellPet management team and bring together all of Clearlake’s available resources to drive value creation, accelerate organic growth, and create a consolidation platform for the category.”
Kent-Rizkalla said: “Today marks an important new chapter in WellPet’s history as we look to advance our mission of delivering nutritional excellence for the growing number of pet parents around the world. Clearlake’s operational insights and deep experience in the consumer sector will accelerate our momentum in premium pet food and treat products and support our unwavering commitment to nutritional innovation, product quality for our partner retailers and pet owners, and the wellbeing of the pets that depend on our products.”
Arta Tabaee, managing director of Clearlake, added: “We are excited to leverage our extensive experience investing in consumer brands, emerging food platforms, and health and wellness trends to the pet food and treats ecosystem. We believe deploying our deep bench of operating partners and our O.P.S. value creation framework can drive accelerated growth at WellPet through best-in-class innovation, enhanced brand investment, and careful attention to the Company’s customers and retail partners.”