Phelps Industries, a pet treat and snack manufacturer owned by Wafra Partners, has hired Daniel Trott as its new President and Chief Executive Officer.
“I am excited to combine both my experience and leadership into providing our clients an even greater value proposition and expanding our presence in a number of underdeveloped pet treat channels,” said Mr. Trott. “I have tremendous respect for Phelps Industries’ management team and supportive board of directors, and look forward to building our business.”
Phelps Industries, acquired by Wafra in January 2013, is a manufacturer and marketer of pet treats and chews to major supermarkets and retail pet stores across the United States and internationally. Phelps markets pet treats and chews under private label, contract manufactured and in-house brands. The company is headquartered in Boston with an additional facility in Rockford, IL (www.phelpsindustriesinc.com).
“It was vital we bring in an experienced leader with a broad perspective across categories to lead our talented existing team, and are pleased to welcome Dan,” said Ryan Wierck, Managing Director, Wafra Partners.
Wafra invests up to $30 million of equity per transaction in middle market companies based in North America that have enterprise values between $20 million and $150 million. Typical investments have revenue of $20 million or more and EBITDA of $4 million or more. Sectors of interest include consumer products, outsourced business services, niche manufacturing, and consumer-driven services. The firm is based in New York (www.wafrapartners.com).
Mr. Trott joins Phelps Industries after eight years with Kansas City based, Russell Stover Candies, most recently serving as the company’s Chief Operations Officer. During Mr. Trott’s tenure, Russell Stover outpaced industry growth for more than five years and tripled its EBITDA. At Russell Stover – which was owned by the Ward Family until its sale in July 2014 to Swiss chocolate maker Lindt & Sprüngli – Mr. Trott was responsible for sales, key components of the operations function, customer service, and international expansion.
Prior to Russell Stover, Mr. Trott was the president of American Italian Pasta Sales Company. Earlier in his career he held a variety of roles at PepsiCo. Mr. Trott earned his MBA from the University of Missouri and his BS in Business Administration from Southeast Missouri State University.
© 2015 PEPD • Private Equity’s Leading News Magazine • 3-4-15
