MISSISSAUGA, Ontario, March 20, 2019.
First acquisition of 2019 by the pet industry’s merchant bank aims to take advantage of the growing use of natural health supplements by pet owners
(GLOBE NEWSWIRE) — Dane Creek Capital Corp. (‘DCCC’, or the ‘Company’) is pleased to announce the acquisition of Bonnie & Clyde Premium Pet Goods (‘Bonnie & Clyde’), representing the Bonnie & Clyde brand of high-quality pet supplements designed to enhance the health and wellbeing of dogs and cats. Bonnie & Clyde is based in Quebec City and was founded by Jon Caldwell, a veteran of the Canadian Armed Forces. Bonnie & Clyde supplements are sold in pet specialty retail stores in Canada and via online channels in the United States. DCCC will be featuring Bonnie & Clyde supplements at the Global Pet Expo in Orlando, FL from March 20 – 22.
The purchase price represents approximately 1.3 times trailing 12-month revenue. Under the terms of the deal DCCC will pay a portion in cash and the remainder in equity from its subsidiary, United Pet Supplements Inc. (‘United Supplements’). United Supplements was created to hold DCCC’s growing stable of pet supplements businesses including its existing Baie Run product line of 16 different oil and powder supplements. DCCC will retain a substantial majority in United Supplements with the completion of this acquisition. Caldwell will assume the role of President of United Supplements. No other terms were announced.
‘We are pleased to be making this announcement,’ says Mark Warren, Chairman and CEO of DCCC. ‘Petowners are more and more looking to add natural health supplements to their pets’ diets, mirroring their growing use of supplements for their own health. This is even more pronounced amongst the rapidly increasing number of pet owners switching to raw diets for their dogs and cats, an area where we have also been very active. We are also very pleased to be adding Jon to our team. We honour his military service for Canada and celebrate his success at building Bonnie & Clyde into a leading brand which in both distribution and design will complement our existing brands.’
Bonnie & Clyde is named after Jon and his wife Justine’s two rescued cats. The Bonnie & Clyde line of supplements includes wild omega-3 oils and joint health powders.
‘I am delighted to be joining the DCCC team as President of United Supplements,’ said Caldwell. ‘I am excited for the opportunity to grow the business both through acquisition and organically by aligning the portfolio of supplements brands with the other pet food and treats companies under the DCCC umbrella.’
Caldwell’s distinguished four-year service in the Canadian military included eight months in Afghanistan during 2011 and 2012. He founded Bonnie & Clyde in 2015.
MacKenzie Keillor, VP, M&A & Strategic Initiatives
Dane Creek Capital Corp.
Amanda Zaharchuk, VP Marketing & Communications
Dane Creek Capital Corp.
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