Alvarez & Marsal Capital Partners (AMCP), a middle-market private investment fund that is part of the A&M Capital platform, has acquired a majority interest in BrightPet Nutrition Group. Under the new partnership, several members of the Golladay family—founders of the business—will maintain their roles as BrightPet executives and minority owners. As part of the acquisition, current president Matthew Golladay has been promoted to CEO.
“The energy of the A&M Capital Partners team and its dedication to our business have been evident since day one,” Golladay said. “With its support, we are well-positioned to not only continue, but also accelerate the aggressive and record-setting growth BrightPet has experienced the last several years. We are eager to continue this work with the support of our new partners and can’t wait to take advantage of new opportunities that A&M Capital Partners brings to the table. We thank Graham Partners for its support in helping us grow over the past several years.”
BrightPet was formed by Graham Partners in 2016 through the acquisition and combination of Ohio Pet Foods Inc., Blackwood Pet Food LLC and Southern Tier Pet Nutrition LLC. The Lisbon, Ohio-based company operates three complementary businesses—outsourced kibble manufacturing, outsourced treat manufacturing and a portfolio of company-owned premium pet food and treat brands, which include Blackwood, Adirondack and By Nature.
“A core tenet of our strategy is to invest in established and successful businesses where we can partner with management teams to accelerate growth in stable and growing industries,” said Ryan McCarthy, partner at AMCP. “BrightPet is a market leader in the rapidly expanding pet food and treat industry, which we believe will see major, sustained boosts from the growing treatment of pets as family members, the proliferation of small- and medium-sized pet food brands with substantial outsourcing needs, the increased penetration of e-commerce and high demand for U.S.-produced premium pet food. We are very excited to partner with the Golladay family and management team to continue to build off of these tailwinds, with a focus on strategic acquisitions and accelerating growth by expanding the company’s sales channels and product portfolio, and increasing its market penetration. We are especially proud that the Golladay family and senior management team will continue to own a meaningful equity stake in the company, which reflects the spirit of our partnership and enables them to participate directly in future value creation.”
Houlihan Lokey and Dechert advised BrightPet on the transaction. Morgan Lewis advised the Golladay family. Kirkland & Ellis provided legal counsel to AMCP.