Westminster Pet Products, owned by AUA Private Equity Partners, has snapped up US peer Pet ‘n Shape.
Financial terms were not disclosed. Rhode Island-based Westminster Pet Products, acquired by AUA Private Equity last year, said the deal would expand its reach.
“The combination of Westminster and Pet ‘n Shape allows us to build on the success Pet ‘n Shape has established in the online and e-commerce channels, and enables us to serve a larger customer base, across new channels, with a broader range of product offerings,” Westminster Pet Products CEO Joe Flanigan said. Flanigan, who spent ten years working at Mars until December 2016, joined as chief executive in January.
Set up in 2005 by the Abramson Family, California-based Pet ‘n Shape markets pet treats and chews.
Founder and CEO Ahdee Abramson pointed to the improved clout the company would have through the backing of its new owner. “As part of the Westminster family, Pet ‘n Shape will have more resources and support to focus on continued growth and enhancing its value proposition to customers,” Abramson said.
Last year’s acquisition of Westminster Pet Products was AUA Private Equity’s first in the pet sector. At the time, the private-equity firm cited the “attractive industry tailwinds” and rising consumer spending on pets.
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David Benyaminy, a partner with AUA Private Equity, said: “Pet ‘n Shape expands Westminster’s consumable offering and enhances its important and fast-growing e-commerce segment.”
In April, the buy-out house announced the final closing of AUA Private Equity Fund II, LP and its parallel funds, with total capital commitments of US$310m.
The private-equity firm said the fund would continue its strategy of investing in “lower middle-market companies” in the US consumer sector, making equity investments of $20-75m.