Petmate is ‘well-positioned to capitalize’ on growth.
STAMFORD, CT — Private equity firm Olympus Partners placed a vote of confidence in the pet industry with its recent acquisition of Petmate Holdings Co., a supplier of non-food pet products to retailers.
Paul Rubin, partner at Olympus, called Arlington, TX-based Petmate “a highly attractive platform in the pet industry that is well positioned to capitalize on the industry’s growth through multiple sales channels.”
Petmate’s product line includes crates and carriers, outdoor shelters, feeding and watering, and various toys. Its branded toys and licensed products include ChuckIt!, JW Pet and Jackson Galaxy.
Olympus bought the company from Chicago-based private equity investment firm Wind Point Partners, which bought it in January 2011.
Financial terms of the deal were not disclosed.
Olympus invests across a range of industries, including restaurants, consumer products, healthcare services, financial services, packaging and business services. The acquisition of Petmate marks the eighth investment out of its $2.3 billion sixth fund.
An Olympus press release bore the apparently tongue-in-cheek headline “Olympus Fetches Petmate After Dogged Effort to Purchase.”
Themiddlemarket.com reports that with the deal, Olympus “is betting on additional growth in the pet sector.”
Alice Tillett, CEO of Petmate, said, “We are happy to partner with Olympus and believe they are ideally positioned to support our next phase of growth and development. We look forward to working with them as we continue to focus on building out the leading pet products company and bringing innovative new ideas and products to our customers.”