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December 13, 2021updated 14 Dec 2021 9:13am

Arbor Investments expands in pet food with Carnivore Meat Company

Arbor presently owns Red Collar Pet Foods and has been active in M&A in other areas of the food spectrum.

US private-equity firm Arbor Investments has added another pet-food business to its portfolio – Carnivore Meat Company in Wisconsin.

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The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
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Chicago-headquartered Arbor did not reveal the terms of the deal only to say it had made an “investment” in Carnivore, a producer of freeze-dried and frozen pet food, snacks and treats.

The private-equity business already owns Red Collar Pet Foods, formed in 2018 through the acquisition of the Exclusive Brands business of Mars Petcare. In 2019, Red Collar bought Hampshire Pet Products in Missouri.

The latest deal was struck through Arbor’s Fund V platform but the investor did not disclose whether it was a majority or minority stake when approached by Just Food.

Founded in 2012 by CEO Lanny Viegut, Carnivore’s branded products include Vital Essentials, Vital Cat, Ve Raw Bar and Nature’s Advantage sold into US and Canadian retailers, and 14 other international markets. The business also supplies private label and is engaged in contract manufacturing.

“The freeze-dry sector is seeing meteoric growth as pet parents learn about the unrivalled benefits of a raw diet,” said Arbor partner Chris Tuffin. “The Carnivore team has developed distinctive products with a fanatical customer base. We look forward to bringing our resources and capital to help increase capacity and support the step-change acceleration in the company’s growth.”

Viegut and the management team will remain in place.

The CEO added: “Carnivore has been blessed with incredible growth and we see acceleration at an even faster rate in the future. This partnership will help us stay ahead of the ever-increasing demand for our 100% raw protein products.”

Arbor has been active through M&A in other areas in food. Last month, the investor acquired Canadian salsa-to-tofu maker Fontaine Santé Foods. During the summer, its US-based Crown Bakeries business snapped up peer Bagel Boy, adding to the deal for Michel’s Bakery.

Last year, Arbor acquired Steck Wholesale Foods, a manufacturer of muffins and biscuits.

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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