Investment to allow for strategic refocusing of Guelph-based manufacturer of pet treats and supplements to drive North American growth
MISSISSAUGA, ONTARIO – Jan. 10, 2018. Dane Creek Capital Corp. (“DCCC” or the “Company”), North America’s merchant bank with a pet industry focus, today announced it has increased its stake in Your True Companion Pet Products Inc. (“Companion Pet Products”), the Guelph-based manufacturer of dehydrated raw pet treats and health supplements for dogs and cats. Under the terms of the transaction, DCCC’s stake in Companion Pet Products has increased from 30% to 74%. The transaction closed on December 22. Financial details were not announced.
Companion Pet Products was founded by Paul Spindler in 2011 and sells its treats under the True Raw Choice and Pawzzie brand names. Both brands are known for offering human grade, single protein dehydrated treats with no artificial ingredients and are sold in leading pet specialty retailers across Canada. Spindler will continue as President.
In connection with the investment, Companion Pet Products has sold its non-manufacturing pet supplements assets to Baie Run Pet Products Inc. (“Baie Run”), a company wholly owned by DCCC. Under the terms of the deal, Companion Pet Products has entered a 5-year manufacturing contract with Baie Run whereby it will continue to manufacture high quality supplements such as colloidal silver and dried kelp which will now be sold under the Baie Run name.
In October 2017, DCCC announced a similar deal through its acquisition of the non-manufacturing pet assets of Nature’s Way Canada, a leading manufacturer of omega-3 oils for people and pets. The high quality and potent CanineOmega3 oil for dogs and FelineOmega3 oil for cats will begin appearing under the Baie Run brand name in February 2018. The transaction with Companion Pet Products will give Baie Run a complete line of 18 unique supplements making it one of the largest natural pet supplements brands for dogs and cats in North America.
“With this investment and the related transaction with Baie Run, Companion Pet Products is now better positioned to focus on its popular and high quality True Raw Choice and Pawzzie pet treats lines and to take advantage of opportunities for growth across North America,” said Glen Tennison, President & CFO at DCCC. “We believe pairing the manufacturing strength of Companion Pet Products with the growing Baie Run brand will make both companies a driving force in the pet products industry.”
Tennison will now assume the role of Chairman on the Companion Pet Products board of directors.