Kinderhook Industries has acquired branded and private label pet food maker Prairie Dog Pet Products.
Prairie Dog Pet Products is a specialty manufacturer and marketer of dog treats, including freeze-dried treats, jerky, and natural animal parts. The company markets its products under its own brand as well as private labels with numerous pet brands. Prairie Dog is headquartered near Dallas in Grand Prairie, Texas and has four manufacturing and distribution facilities in Texas and Colorado.
The investment in Prairie Dog is Kinderhook’s second in the pet products industry. After a three-year hold, the firm sold Absorption Corp – a provider of small animal bedding and natural cat litter under the CareFRESH, Healthy Pet, and CritterCare brands – to JRS (J. Rettenmaier & Söhne), a Germany-based maker of pet litter and bedding products, in 2013.
“We are excited to welcome Prairie Dog Pet Products to the Kinderhook portfolio,” said Thomas Tuttle, a managing director at Kinderhook. “The company has positioned itself for strong future growth with its state-of-the-art manufacturing facilities in Abilene and Montrose, its focus on premium, all-natural treats, and its key relationships with leading brands in the pet space. Kinderhook is excited to partner with management and invest in equipment, personnel, and systems to further build out the company’s capabilities as the market continues to demand high-quality products.”
As part of this transaction, Kinderhook has named Operating Partner Ted Mischaikov as Prairie Dog’s chief executive officer (Mr. Mischaikov was the CEO of Absorption Corp from May 2011 to May 2020); Jeff Camosci (former vice president international sales for Diamond Pet Foods), as chief revenue officer; and Scott Gordon (former CFO of private equity-owned sign maker Kieffer Starlite) as chief financial officer.
“Consumers across the world feel a strong obligation to feed their pets safe, clean, healthy and well-balanced treats from companies they trust. With Kinderhook’s support, Prairie Dog and its proprietary “Made in America” single source jerky and shelf-stable, raw freeze-dried treats can meet those needs and exceed customers’ expectations,” said Mr. Mischaikov.
New York City-based Kinderhook makes control investments in companies with transaction values of $25 million to $150 million in which the firm can achieve financial, operational and growth improvements. The firm makes investments in non-core divisions of public companies, management buyouts of entrepreneurial-owned businesses, troubled situations, and existing small-capitalization companies lacking institutional support. Sectors of interest include healthcare services; environmental and business services; and automotive and light manufacturing.
Private Equity Professional | June 30, 2020
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