Gryphon Acquires Vetnique Labs
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Gryphon Acquires Vetnique Labs

The buy of Vetnique is Gryphon's first investment in the pet products space and second investment in the broader pet health and wellness sector

Vetnique’s product line includes supplements and topical solutions for digestive health, allergy and dermatological support, and ear care.

SOURCE: Vetnique Labs

Gryphon Investors has acquired Vetnique Labs, a maker of specialty pet products including supplements and topical solutions for digestive health, allergy and dermatological support, and ear care.

Vetnique’s nose-to-tail products are sold through several channels, including direct-to-consumer, pet specialty retail outlets, and through veterinary products distributors. Vetnique has nine company-owned brands including Glandex, Octicbliss, Dermabliss, Furbliss and Seniorbliss.

Source: Vetnique Labs

Vetnique is headquartered near Chicago in Naperville, Illinois. The company was founded in 2012 by CEO James Bascharon. Dr. Bascharon will remain in his current role and maintain an equity interest in the business in partnership with Gryphon.

“We are delighted to join the team at Gryphon as we enter our next phase of growth,” said Dr. Bascharon. “Gryphon is an ideal partner given the firm’s experience in pet and consumer health and its track record of working with professionally recommended brands. We believe this investment will allow us to accelerate the incredible momentum we have built over the last few years.”

“Vetnique occupies a unique position in the $2 billion pet supplement market as a company with innovative products benefitting from compelling tailwinds,” said Mike Ferry, an operating partner at Gryphon. “As we continue to see increased use of supplements with companion animals, we believe that Vetnique will stand out as offering differentiated solutions that provide real and lasting benefits for pets.”

San Francisco-based Gryphon makes leveraged acquisitions and growth investments in middle-market companies. The firm invests from $50 million to $300 million of capital in companies with enterprise values ranging from $100 million to $600 million. Sectors of interest include business services, consumer products and services, healthcare, industrial growth, and software.

The buy of Vetnique is Gryphon’s first investment in the pet products space and second investment in the broader pet health and wellness sector. In December 2019, Gryphon acquired Heartland Veterinary Partners, a Chicago-based veterinary support organization with nearly 100 veterinary practices across the Mid-American and Southern markets.

Post-acquisition, Gryphon will invest in expanding the company’s product and geographic reach. “We look forward to partnering with James and his outstanding team at Vetnique, and can’t wait to get to work,” said Eddie Douglas, a principal in Gryphon’s consumer group. “After many years of evaluating the overall pet space, we are excited to support Vetnique’s efforts to build the premier pet health and wellness platform. We are impressed with the business to date and are honoured to welcome such a unique brand into the Gryphon family.”

“Vetnique is a perfect fit for Gryphon and leverages our proactive focus of investing behind differentiated brands in pet health,” said Matt Farron, a partner and the head of Gryphon’s consumer group. “We are proud to be working with such an innovator in a thriving sector and to be supporting the team as they build for the future.”

William Blair & Company was the financial advisor to Gryphon and Raymond James advised Vetnique.

© 2023 Private Equity Professional | April 25, 2023

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