Headlines Dog Chew Maker With $75M in Revenue to Be Acquired Published 3 years ago on May 18, 2017 By PETS+ Staff Share Tweet The deal will be completed this month. MIDDLETON, WI — Spectrum Brands Holdings Inc. is acquiring PetMatrix LLC, a maker of rawhide-free dog chews. Financial terms of the deal were not disclosed. Spectrum Brands (NYSE: SPB) is a global consumer product company. “PetMatrix will immediately strengthen our pet care portfolio with its well-established and growing brands catering to healthy alternative pet trends,” Andreas Rouvé, CEO of Spectrum Brands, said in a press release. “We expect it to further solidify Spectrum Brands as a leader in the North American dog chews category and to provide compelling white space revenue opportunities in Europe, Latin America and Asia.” Advertisement PetMatrix, which is on pace for about $75 million in sales this year, has two flagship brands: DreamBone and SmartBones. Its products are sold to mass merchandisers, food and drug stores, and pet specialty stores. PetMatrix “benefits from a strong patent portfolio and has a robust pipeline of new products expected to drive future growth and product portfolio diversification opportunities,” according to the release. It is owned by Mark Stern, an affiliate of Friend Skoler & Co., and members of management. “The PetMatrix team and I are excited to join Spectrum Brands,” said Stern, founder and CEO of PetMatrix. “This partnership will bring additional resources to our company and allow us to execute our plans for continued growth in the coming years.” The acquisition, which has been approved by Spectrum Brands’ board of directors, is expected to close by the end of May and is subject to customary closing conditions. RBC Capital Markets is serving as financial adviser and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal adviser to Spectrum Brands. J.P. Morgan and Friend Skoler & Co. are serving as financial advisers and Goodwin Procter LLP is serving as legal adviser to PetMatrix. Advertisement Related Topics:acquisitionPetMatrixSpectrum Brands click to Comment(Comment) Advertisement You may like Hemp Technology Acquires True Leaf Pet Manna Pro Products Acquires Doggie Dailies Elanco Closes $6.89B Acquisition of Bayer Animal Health Promoted Headlines Category Spotlight: Terry Naturally Animal Health Category Spotlight: eTailPet Are You Ready For Adventures Beyond The Backyard? Tall Tails Advertisement Latest Trending Videos Columns9 hours ago 5 Ways to Prepare Your Salon for the Holidays Trace's Store School10 hours ago Video: Trace’s Store School Covers Lessons Learned from COVID-19 Press Releases22 hours ago EQyss Starts Producing Human and Pharmaceutical-Grade Hand Sanitizer True Tales3 days ago Employees: Leave Your Pot at Home to Keep Your Job Columns1 week ago How Beer Helped Me Promote My Pet Business Columns7 days ago 3 Things Customers Want and Need from Pet Businesses Trace's Store School10 hours ago Video: Trace’s Store School Covers Lessons Learned from COVID-19 America's Coolest2 weeks ago Video: Take a Tour of Bark Life in Seminole, FL Trace's Store School2 weeks ago Video: Learn How to Do Holiday on a Budget at Trace’s Store School Advertisement SubscribeBULLETINS Get the most important newsand business ideas from PETS+. Advertisement Most Popular True Tales3 days ago Employees: Leave Your Pot at Home to Keep Your Job Columns1 week ago How Beer Helped Me Promote My Pet Business Columns7 days ago 3 Things Customers Want and Need from Pet Businesses Columns1 week ago 5 Consumer Behavior Trends Reshaping Holiday Shopping Candace D'Agnolo1 week ago Complete These 7 Important Tasks at Your Pet Business Before the End of 2020 Headlines7 days ago Yelp to Flag Businesses Accused of Racism With ‘Consumer Alerts’ Photo Gallery3 days ago 19 Photos That Show Why Dexter’s Deli Is One of America’s Coolest Pet Stores Behind the Pages1 week ago Podcast: Should You Carry Poop Bags Featuring the Faces of Donald Trump and Joe Biden?