ST. LOUIS — Prairie Dog Pet Products has acquired Himalayan Corp.
Benjamin F. Edwards’s investment banking group, a boutique investment bank specializing in M&A advisory services, announced that it advised Himalayan Corp. on the transaction.
Financial terms of the deal were not disclosed.
Himalayan CEO Suman Shrestha will join Prairie Dog. Himalayan, which was founded in 2003, “invented the cheese dog chew category,” according to a press release. Today, Himalayan “offers a number of premium cheese chews and remains the world leader within the cheese chew category for dogs.” The transaction was led by Shelby Schagrin and Philip Metzger of Benjamin F. Edwards.
“Himalayan’s visionary CEO, Suman Shrestha, after inventing the cheese chew category, has built the leading supplier of cheese chews in the world,” said Shelby Schagrin, managing director and head of Investment Banking at Benjamin F. Edwards in St. Louis.
Schagrin said: “We look forward to watching Himalayan continue to introduce innovative products in partnership with Prairie Dog.”
Shelby said: “The sale is also a reflection of the highly attractive pet industry, which is one of the industries that has performed well during the pandemic. Consumers have increased their adoption and purchases of pets during the pandemic. In addition, the strong trend of pet humanization continues, with pet parents treating their pets as part of the family. This trend has resulted in increased spending on pet health and wellness as well as premium products. Because of this, we continue to see strong demand for pet companies, particularly among private equity.”
Prairie Dog Pet Products, headquartered in Grand Prairie, TX, is a specialty manufacturer and marketer of premium, American-made dog treats, including freeze-dried treats, jerky and natural parts. Its products are marketed under its own brand as well as via private-label relationships with top brands in the pet industry. Prairie Dog is owned by Kinderhook Industries, a private investment firm that manages over $3 billion of committed capital.