Arbor Adds to Red Collar Pet Foods

Red Collar Pet Foods, a portfolio company of Arbor Investments, has acquired Hampshire Pet Products.

Hampshire Pet Products is a provider of baked and cold formed pet products and is also a co-manufacturer of several of the nation’s leading branded pet treats. The company, led by CEO Julie Larson, has a 200,000 sq. ft. facility with three production lines and six packaging lines in Joplin, MO (www.hampshirepetproducts.com).

Arbor Investments formed Red Collar Pet Foods in December 2018 to acquire the US-based private label pet food products business of Mars Petcare. Red Collar manufactures private label pet food and treat products for national retail customers and includes five manufacturing facilities in South Carolina, Ohio, Oklahoma (2) and California. The company is headquartered in Franklin, TN (www.redcollarpet.com).

The buy of Hampshire Pet expands Red Collar’s capabilities in the premium and super premium baked and cold formed treats category. Additionally, the added production capabilities will make Red Collar one of the largest private label and contract manufacturers of dog and cat treats in North America.

“We’re thrilled to welcome Hampshire Pet and its talented group of associates to the Red Collar family,” said Chris Hamilton, CEO of Red Collar. “The pet snack and treat market continues to grow at unprecedented rates and the Hampshire facility is one of the largest in the industry. Their commitment to food safety, quality and cutting-edge innovation make it a nimble, one-stop manufacturing solution for brands and retailer partners alike.”

“We are excited to add Hampshire Pet’s well-regarded pet treat franchise to Red Collar’s treat business,” said Arbor Partner Chris Harned. “With Red Collar having a facility in nearby Miami, OK, the two treat businesses have complementary manufacturing capabilities, similar agile innovation-driven cultures and great track records of exceeding customer expectations. We look forward to continued growth and development of our two-plant pet treat ‘center of excellence’ together with veteran leader Julie Larson, who will report to Chris Hamilton, President and CEO of Red Collar.”

Arbor invests in the food, beverage and related industries. Typical targets will have annual revenues of up to $300 million and EBITDA from $5 million to $50 million. Since founding in 1999 the firm has acquired or invested in over 55 food and beverage companies in North America. In July 2016, Arbor closed its fourth equity fund, Arbor Investments IV LP, with $765 million of capital and its first subordinated debt fund, Arbor Debt Opportunities Fund I LP, with $125 million of capital. Arbor is based in Chicago (www.arborpic.com).

Duff & Phelps Securities was the exclusive sell-side financial advisor to Hampshire Pet on this transaction.

© 2019 Private Equity Professional | February 22, 2019

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