Private equity firm H.I.G. Capital of Boston reported in early January that it has acquired a majority interest in Pro-Pet LLC of St. Marys, Ohio. Financial terms of the deal were not disclosed.
Pro-Pet manufactures premium and super premium private label dry pet food. It has operating facilities in St Marys; Kansas City, Kas.; and Owatonna, Minn.
H.I.G. worked with Pro-Pet’s senior management, including president and CEO Mike Wright, to complete the recapitalization. Land O’ Lakes, an owner of Pro-Pet since its inception, will maintain a minority position in the company.
“We are very pleased with H.I.G.’s support of our business and will benefit from their commitment to support of our strategic initiatives,” Wright said. “With H.I.G.’s backing and expertise, we will be well-positioned to take advantage of growth opportunities and to better serve our customers in the private label pet food market.”
Peter Cornetta, managing director at H.I.G., said Pro-Pet is a leader in high quality private label pet food.
“We look forward to assisting the management team in continuing to grow Pro-Pet’s product breadth and geographic reach while maintaining its superior service and product offering,” he said. <HOME>
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