Platinum Equity has acquired Cosmic Pet, a designer, marketer and distributor of pet products, including toys, beds, collars and leashes, treats, feeders and bowls, and other accessories. Cosmic Pet will be combined with Petmate, a Platinum Equity portfolio company. Financial terms were not disclosed.

Cosmic Pet’s portfolio of brands, which includes Hyper Pet, Pet Fusion, Our Pets, Pet Zone, Wild Eats and Pet Craft Supply Co. It boats a large and differentiated in-house international sourcing operation to serve the branded and private label needs of its blue-chip customer base, company officials said.

Petmate, which was acquired by Platinum Equity in September, manufactures, sources and markets a diverse product line that includes plastic and wire pet kennels, dog houses, toys, food storage, bedding, treats and chews, and other pet-related products and accessories.

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 “The U.S. pet industry continues to demonstrate steady growth fueled by increased consumer demand for products that improve the quality of life for pets. As the market grows, large national retailers are increasingly looking for partners with diverse and comprehensive product portfolios,” said Adam Cooper, Platinum Equity managing director. “This combination will create a differentiated platform of scale with powerful brand equity, a unique and innovative product mix, diversified end channels, and expertise in both branded and private label offerings.”

Petmate CEO Alice Tillett will lead the combined company.

“Petmate and Cosmic Pet are an ideal fit, with complementary strengths and a shared commitment to serving the needs of passionate pet owners throughout the country,” Tillett said. “This is an exciting opportunity to bring together two best-in-class companies facilitating a transformational step in the growth and evolution of our business.”

Cosmic Pet's operations in Wichita, Kan., will continue to serve as an important part of the combined company’s network, officials said.

Platinum Equity expects to continue using its merger and acquisitions resources to help expand on the platform, officials said.

“The addition of Cosmic Pet is an important first step, but the market remains highly fragmented with numerous additional opportunities to accelerate growth through acquisition,” Cooper added.

BMO Capital Markets served as financial advisor to Platinum Equity on the acquisition of Cosmic Pet, and Gibson, Dunn & Crutcher LLP and Alston & Bird served as legal advisors.