Connect with us

Headlines

Dog Chew Maker With $75M in Revenue to Be Acquired

mm

Published

on

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

Advertisement

FEATURED VIDEO

Pet Sustainability Coalition

Pet Sustainability Coalition Presents: Critical Sustainability Strategies for Retailers

This webinar, held on November 7, 2019, is the second in a series from PSC discussing how retailers can establish sustainable practices in their business. Moderated by PSC’s Andrea Czobor, the webinar unveils data behind the increasing consumer demand for sustainable products, what retailers have to gain from connecting with these purpose driven consumers, and a new PSC program that makes finding these products easier for retailers.

Promoted Headlines

Headlines

State Considers Banning ‘No Pets’ Rental Listings

Some landlords are not happy about the proposed legislation.

mm

Published

on

New Hampshire legislators are considering a ban on “no pets” notices in property listings.

Proposed legislation would forbid landlords and home sellers from barring pet owners, the Concord Monitor reports.

They could make rules related to pet deposits, noise control, sanitation and safety, according to the newspaper. But they could set make rules based on size, breed or appearance.

The legislation was proposed by state Rep. Ellen Read, a Democrat from Newmarket. It has drawn opposition from some landords who say it could lead to unsanitary conditions as well as allergy problems for some residents.

Advertisement

But Julia Seeley, New Hampshire state director for the Humane Society, said her organization supports the bill.

We just strongly believe that a family should not be torn apart simply over housing,” she said.

Read more at the Concord Monitor

Continue Reading

Headlines

Spotify Rolls Out Music Playlists for Pets

Pets seem to favor classical music and soft rock.

mm

Published

on

Digital music service Spotify had a hunch that people were playing tunes for their pets.

A study by the company found that 71% of pet owners did exactly that. The survey included 5,000 music-streaming pet owners from the U.S., the UK, Australia, Spain and Italy.

The company explains:

That being said, we created a unique experience to help you craft the pawfect algorithmically generated playlist for you and your pet to enjoy together. Head to spotify.com/pets for a playlist you can share with your dog, cat, iguana, hamster, or bird.

See the graphic below for more details from the survey.

Continue Reading

Headlines

These States Have the Most Dog and Cat Owners … And These States Have the Least

The US is home to almost as many domestic pets as humans.

mm

Published

on

A new report looks at which U.S. states are the most pet-loving.

Seniorliving.org, a website devoted to providing information to seniors, delved into recent data from the American Veterinary Medical Association to create its rankings.

Idaho had the highest rate of households owning at least one dog, at 58.3%, according to the report, which excluded Alaska and Hawaii, which were not measured in the AVMA study. Dogs are least common in Washington, DC, where 22.5% of households have at least one.

Vermont ranked first for percentage of households with at least one cat, at 44.6%. DC, meanwhile, is the least cat-owning place, with just 16.4% of households being home to a cat.

Advertisement

The U.S. is home to almost as many domestic pets as human beings. Almost 1 in 3 of those pets are fish, Seniorliving.org explains.

Cats and dogs combine for about 54.8% of all domestic pets.

 

 

Continue Reading

Most Popular