(PRESS RELEASE) DENVER, CO — Outward Hound, a portfolio company of Prospect Hill Growth Partners, has acquired Best Friends by Sheri in a deal.
Best Friends by Sheri was founded by Sherry Samani in 2009. Originally focused on producing homeware textiles, Samani noticed her pomeranian Kudo enjoyed sleeping on some of her fabric swatches. Realizing that there was a gap in the market for high-quality, fashionable pet beds, Samani went to work and Best Friends by Sheri was born. Over 10 years later, Best Friends by Sheri’s product portfolio includes some of the bestselling pet beds in the industry.
Known particularly for the Original Calming Donut Pet Bed, Best Friends by Sheri’s innovative pet bed designs have been praised by Forbes, Today Show and Martha Stewart.
“Best Friends by Sheri is one of the strongest pet bed brands in the world with a great following and long history of success,” said Outward Hound CEO Michael Black. “Sherry has done an amazing job building a product line that is beloved by pet parents and veterinarians alike. We’re excited to expand Outward Hound’s offerings into the growing pet bed category.”
“The Outward Hound family of pet brands has always been built on innovation,” said David Fiorentino, Partner at Prospect Hill Growth Partners. “Our acquisition strategy is to identify innovative brands with high growth potential. Best Friends by Sheri meets and exceeds that criteria and we are excited to further grow Outward Hound with such a strong brand.”
McDermott, Will, and Emery served as legal adviser to Outward Hound. Proskauer Rose and Andreas F. Pour served as legal advisers and Hexagon Capital Alliance served as financial advisor to Best Friends by Sheri.