Dane Creek Capital Corp. Announces the Acquisition of Wodema Industries Ltd. dba as Kettle Craft Pet Products.
Mississauga, Ontario – February 1, 2022.
Dane Creek Capital Corp. (‘Dane Creek’) is pleased to announce the acquisition of 93% of the share capital of Wodema Industries Ltd. (‘Wodema’ or the ‘Company’), a leading manufacturer of soft chew pet treats. The transaction was completed via Dane Creek’s majority-owned subsidiary, United Raw Pet Foods Inc. (‘United Raw’). Wodema is the maker of its house brand, ‘Kettle Craft’, kettle-cooked soft treats. In addition, the Company produces ‘Jay’s Soft & Chewy Big Bits’ and ‘Tid Bits’, as well as the ‘Jay’s Soft & Chewy My Mighty Wolf’ and ‘My Mighty Lion’ lines. All treats and soft chews are made in small batches at the Wodema manufacturing facility in Kelowna, British Columbia.
Founded in 1996 by Colleen and Wolf Thoma, Kettle Craft has become one of the most trusted brands of treats and soft chews in Canada and a growing brand in the United States. Produced in small batches in purpose-built kettles using traditional European cooking techniques, the treats and soft chews are a popular choice of owners of both dogs and cats. All Kettle Craft treats are hand-made using the finest locally-sourced natural ingredients and simmered for hours before being cured, creating a unique taste and texture experience. Kettle Craft treats and soft chews can be found in pet specialty retailers across Canada and in the United States, online at Chewy.com.
‘I am delighted to be announcing the addition of Wodema to the United Raw family,’ said Mark Warren, Chairman & CEO of Dane Creek. ‘Colleen and Wolf have worked tirelessly to create one of the most respected brands of treats and soft chews in Canada and, working with their team, we look forward to expanding the reach of the brand across our pet food and pet supplement operations’.
Wodema operations will continue to be based in Kelowna, B.C. In addition, to support the growth of its own Kettle Craft brand, Wodema will continue to produce other well-known brands, like Jay’s Soft & Chewy products. No financial details were provided.
‘In looking for a buyer for our business, it was important that we find one committed to building on what we have achieved and is also committed to supporting the local community here in Kelowna,’ said Colleen Thoma. ‘After 26 years in business, this is a very big step for us, but one that we are excited to be taking nonetheless. Mark and the rest of the Dane Creek team have made the transition very easy. They have exceeded our expectations. We have no doubt that Kettle Craft will continue to thrive and expand throughout North America. We look forward to seeing their new ideas for Kettle Craft come to fruition.’
Wodema represents the 19th acquisition or investment in the pet industry made by Dane Creek or via its majority-owned subsidiary, United Raw, since October 2017. According to petfoodindustry.com, trailing twelve-month sales of pet treats to the end of August 2021 grew by 13.7%, outpacing sales growth of pet food.
About Dane Creek Capital Corp.
Dane Creek Capital Corp. is a privately held Canadian merchant banking venture dedicated to the pet industry. With over 30 years of experience in the pet industry and an extensive network of industry professionals, we offer valuable financial and management support to up-and-coming companies in the companion animal sector through selective, strategic investments in Canada, the US and the UK. Our investment horizon is long-term taking into account current trends and changes in pet owner demographics with a current focus on opportunities in sustainable and raw pet food products, pet supplements and nutraceuticals, alternative models for veterinary care, pet insurance and biotechnology. To date, Dane Creek has acquired or invested in 19 pet businesses in North America.
About United Raw Pet Foods Inc.
United Raw Pet Foods Inc. is Canada’s leader in alternative pet foods, with a current focus on the frozen raw sub-category and pet specialty retail. Majority-owned by Dane Creek Capital Corp., United Raw owns the largest family of Canadian raw pet food brands. To date, United Raw has acquired five manufacturers of frozen raw pet foods including Mountain Dog Enterprises Inc. (Edmonton, AB); ‘Pets 4 Life’ (St. Thomas, ON); ‘Naturawls Pet Products’ (St. Thomas, ON); Natural Chow Pet Food Corp., the maker of ‘Spring Meadows’ (Saskatoon, SK); and Tollden Farms Inc. (Kemptville, ON); and soft chew pet treats manufacturer, Wodema Industries Ltd. (Kelowna, BC). United Raw also acquired leading pet specialty retailers, Growlies Pet Foods Inc. (Victoria, BC), The Wild Side Pet Boutique Inc. (Nanaimo and Qualicum Beach, BC), Lucky Paws Enterprises Inc. (Mill Bay and Duncan, BC), A Pet’s Life Ventures Inc. (Oak Bay, BC) and Pets West Pets & Supplies Ltd. (Victoria, BC) in 2021, as well as a minority stake in Pet Plate, a US-based, direct-to-consumer provider of lightly cooked pet food, in 2018.
Contacts:
Mark Warren
Chairman & CEO
Dane Creek Capital Corp.
m: 905.875.6218
Mackenzie Keillor
VP, M&A, Strategy & Shareholder Relations
Dane Creek Capital Corp.
m: 902.880.1550