Posted: Jan. 17, 2013, 4:50 p.m. EST
Dog treat maker Phelps Industries LLC was sold to an investment group made up of Phelps management and Wafra Partners LLC, the new owners reported Jan. 11.
Terms were not disclosed.
Based in Wakefield, Mass., and Rockford, Ill., Phelps manufacturers treats and chews for sale in supermarkets and pet stores across the United States and internationally. The company makes in-house and private-label treats as well as goods on behalf of other manufacturers.
“Given our growth plans and the opportunities that lie in front of us, it was important for us to partner with a group that understood and appreciated our existing capabilities and team,” said Vin Foley, Phelps’ president. “Additionally, this transaction will provide us with the professional and financial support to take Phelps to the next level.”
Phelps Industries’ in-house treat brands include Glad Wags and Chewdles.
Ryan Wierck, a managing director at New York-based Wafra, said the investors intend to fund “internal growth opportunities and follow-on acquisitions.”
“Phelps is the ideal platform on which to build a large, diversified manufacturer, importer and marketer of pet treats and chews and other products for household pets,” Wierck said. “We look forward to building on Phelps’ manufacturing and marketing capabilities and increasing efforts to sell current and new product and packaging offerings through existing as well as new channels of distribution.”
Wafra Partners reported that it invests
in traditional middle-market companies and partners with a company’s management on strategic growth plans.
Industry Professional Site: Comments from non-industry professionals will be removed.