Vestar Capital Partners, a private equity firm, has agreed to make a majority investment in PetHonesty, a pet supplement company.
PetHonesty co-founders Ben and Camille Arneberg will retain a significant minority stake, and Arneberg will continue to serve as CEO. Financial terms of the transaction were not disclosed.
PetHonesty’s products address issues related to mobility, digestion, allergies and more. Based in Austin, TX, with a second office in New York, PetHonesty sells its products direct to consumers via its website as well as through partners such as Amazon and Chewy. The company was founded in 2018.
“PetHonesty is a fast-growing company that has built a passionate following of pet-loving consumers, and we’re excited to partner with Ben and the entire team as the Company builds on its success,” said Winston Song, managing director and co-head of consumer at Vestar. “Pet parents have shown they are deeply committed to purchasing premium products, and PetHonesty is well positioned as the pet humanization trend and pet ownership continues to grow. We look forward to leveraging our consumer and pet category experience to help PetHonesty expand its brand and reach new customers.”
Arneberg said: “Our vision was to create the most trusted pet health company that empowers pet owners to offer their pets healthier and higher quality lives, and our partnership with Vestar is the next step in that journey. We have been fortunate to find the right partner in Vestar, which remains committed to our business strategy and will help provide the financial backing, industry relationships and category expertise needed to build on our momentum.”
