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Natural Balance and Canidae Join Forces Under Ethos Pet Brands

Premium pet food brands reinforce their commitments to the highest quality nutrition.

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(PRESS RELEASE) BROWNWOOD, TX — Ethos Pet Brands, the new parent company created by the merger of industry-leading brands Natural Balance Pet Foods, Inc., and Canidae Pet Food Company, was unveiled. The combination will leverage both companies’ shared passion for improving the well-being and lives of pets through simple nutrition, responsibly sourced ingredients, and protein-rich products.

“Ethos,” the original and long-standing name of Canidae’s manufacturing facility in Brownwood, Texas, reflects both companies’ character, honesty and integrity while representing their commitment to providing high-quality nutrition and premium ingredients.

Natural Balance, known for its Limited Ingredient recipes and Original Ultra product lines for dogs and cats, and Canidae’s Pure, Goodness, and All Life Stages products developed for dogs and cats of all ages, offer complementary yet differentiated comprehensive food solutions sold through the pet specialty, independent and ecommerce channels. The state-of-the-art Brownwood facility, opened in 2012, will now manufacture products for both brands.

“Ethos Pet Brands marks the collaboration between two exceptional companies recognized for their best-in-class offerings for pet parents and their beloved pets,” said Greg Shearson, chairman of the board, Ethos Pet Brands. “The Ethos Pet Brands leadership team was thoughtfully assembled and represents deep experience in the pet specialty space. I am confident they will build upon this strong foundation and guide this new company into a promising future.”

Natural Balance and Canidae first announced plans to merge in March 2023. Natural Balance has a 30-year history of developing premium products with high-quality, protein-forward ingredients spanning dog food, cat food, and treats. For the past 25 years, Canidae has offered dog and cat food products focusing on goodness for pets and the planet through regenerative agriculture and sustainable operations.

As part of the transaction, L Catterton, a leading global consumer-focused investment firm and majority shareholder of Canidae, and Nexus Capital Management, an alternative asset investment company and majority shareholder of Natural Balance, each contributed new growth capital to support the successful integration and strategic long-term expansion of the combined company.

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About Natural Balance

Founded in 1989, Natural Balance Pet Foods, Inc. is a premium pet specialty brand with a complete offering of pet foods for both dogs and cats. The Natural Balance product line comprises over 100 dog and cat food and treat varieties, including Limited Ingredient, Original Ultra, and REWARDS. Natural Balance delivers quality, safety-tested food in every bag. Their Feed with Confidence Program™ provides comprehensive, on-demand safety testing data to help eliminate wonder or worry. Their team of Registered Veterinary Technicians is available via online chat and phone to answer questions and ease concerns. Visit naturalbalanceinc.com for more information.

About Canidae Pet Food Company

From the first truckload of food delivered to the latest batch of pet food cooked in their pet nutrition plant in Brownwood, Texas, Canidae’s story is one to be proud of. Canidae was founded in 1996 by two pet owners who knew they could make pet food better. Better nutrients. Better flavor. Better for our dogs and cats and better for us all. They’ve been committed to quality ever since. That commitment is upheld today in more than just their nutrient-rich, premium pet food. It inspires everything they do, from the land they harvest and the farmers they work with, to the people they employ and the local pet food stores they partner with. All of Canidae’s products are vet-reviewed high-quality and perfectly balanced for optimal health at an affordable price point with no fillers, artificial flavors or artificial preservatives. Canidae is partnering with US farmers and green technology companies to bring new, sustainable practices to pet food including lowering pesticide use, reducing runoff and adopting regenerative farming practices. For more information on Canidae, please visit www.canidae.com.

About L Catterton

L Catterton is a market-leading consumer-focused investment firm, managing approximately $34 billion of capital and three multi-product platforms: private equity, credit, and real estate. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton’s team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation across its portfolio. Founded in 1989, the firm has made over 250 investments in some of the world’s most iconic consumer brands. For more information about L Catterton, please visit www.lcatterton.com.

About Nexus Capital Management LP

Nexus is an alternative asset investment management company based in Los Angeles, California that was founded in 2013. Nexus employs a flexible investment mandate that focuses on long-term value creation by partnering with leading management teams and businesses across the consumer, education, business services and industrials sectors. For more information on Nexus, please visit www.nexuslp.com.

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