PHILADELPHIA, March 29, 2018 – Graham Partners, a private investment firm targeting industrial technology and advanced manufacturing companies, is pleased to announce that its portfolio company, BrightPet Nutrition Group, LLC (“BrightPet”), a leading developer and manufacturer of quality premium and super-premium pet foods serving domestic and international markets, has acquired substantially all of the assets of Phoebe Products, LLC (“Phoebe”), including the SO Bright® brand. Located in Kiel, Wisconsin, Phoebe is a family-owned manufacturer of premium and super-premium pet treats. Phoebe has been one of its industry’s pioneers in offering functional, high meat content, all natural, organic, baked and freeze-dried treats. Graham Partners targeted the acquisition over a year ago and worked with the former family owner-operator on a proprietary basis to close the transaction. The acquisition underscores BrightPet’s commitment to offer innovative premium and super-premium products to the pet category.
Pet treats are benefiting from strong underlying growth in the pet industry, as well as a conversion toward higher quality, nutrient-dense treats, which are forecasted to grow faster than the overall industry. Furthermore, freeze-dried treats are one of the highest growth categories in the pet treat market, which has fueled demand for Phoebe’s products and is expected to position the combined business for continued success.
Joe Heinmiller, Managing Principal at Graham Partners, states, “Phoebe adds a highly complementary business to the BrightPet platform in one of the fastest growing segments of the market. Product line expansion into baked and freeze-dried treats increases BrightPet’s differentiation and provides additional levers to grow the platform. Moreover, there are multiple cross-selling opportunities between the two companies. We look forward to leveraging our expertise to integrate Phoebe and realize the potential of this combination.”
About BrightPet (http://www.brightpetnutrition.com)
BrightPet Nutrition Group, headquartered in Lisbon, OH, is a leading manufacturer of quality premium and super-premium pet food serving domestic and international markets. Through its compelling slow-cooked pet foods, BrightPet has developed successful co-pack, private label and branded businesses. BrightPet targets the most attractive segment of the broader pet food market: premium and super-premium food sold through pet specialty stores. The company holds numerous certifications, allowing it to export to international markets, and is one of only a few USDA Certified Organic pet food producers in the U.S.