Cascadia Capital Advises on the Sale of Zuke's to Nestle Purina Petcare
Transaction Reflects Growing Trend of Consolidation by Major Pet
Consumer Packaged Goods Companies
SEATTLE, WA -- (Marketwired) -- 01/23/14 -- Cascadia Capital, a
diversified, boutique investment bank today announced its Consumer
Practice advised Zuke's, LLC (d/b/a Zuke's) on its sale to Nestle
Purina PetCare Company, a subsidiary of Nestle S.A. which closed in
late 2013. The transaction reflects increasing interest by major pet
product manufacturers in acquiring independent brands that reach a
premium customer through the pet specialty channel.
Cascadia's representation of Zuke's is the latest in a line of
advisory assignments for the firm in the pet industry. The firm has
closed three transactions involving pet companies in the last twelve
months and has several active engagements in the space.
"We are very pleased to have had the opportunity to represent Zuke's
and its shareholders in this transaction," said Bryan Jaffe, Cascadia
Capital Consumer Practice Managing Director. "The Company is an
iconic brand in the industry, and its value proposition is both clear
and salient in today's consumer market where pet owners want high
quality treats that are domestically manufactured."
"In choosing a firm to represent Zuke's in a transaction process, we
wanted someone with deep pet industry expertise and proven executive
level relationships with large strategic acquirers," said Scott
Sellers, Co-Founder and Managing Director of Encore Consumer Capital,
the Company's majority shareholder. "Bryan's in depth industry
coverage provided Encore comfort that Cascadia was the right firm to
help us get this done. The results validate our decision."
Founded in 1995, Zuke's grew to be a leading pet industry brand
through a history of innovation. Driven by a set of guiding
principles focused on being healthy, being active, and being devoted,
the Company created a line of dog treats that help companion animals
and their owners create deeper bonds. Zuke's innovative track record
was inspired by the needs of the namesake and the lifestyle ethos of
the Company's surroundings in Durango, Colorado.
"This acquisition is part of a broader movement among major pet
industry players to buy companies whose products resonate with pet
owners who shop the pet specialty channel almost exclusively. These
pet owners tend to be brand loyal and more apt to base purchasing
decisions on product attributes over price," said Bryan Jaffe.
"Additionally, we expect these large consolidators to do smaller
deals than what has historically been their norm, given that many of
these authentic brands generate less than $100 million in revenue."
"Over five years ago Bryan identified the pet industry as a market
that would see an increase in capital formation as well as
consolidation," said Cascadia Capital, Chief Executive Officer
Michael Butler. "Today representing companies in the pet industry has
become a core pillar of our Consumer Practice and has positioned our
firm as a strategic resource for companies in the industry."
About Cascadia Capital, LLC
Cascadia Capital is a diversified,
boutique investment bank serving both private and public growth
companies. Cascadia provides - Mergers and Acquisitions, Corporate
Financing and Strategic Advising to a broad range of emerging growth
and traditional industries. This diversification provides the firm
with stability amidst market fluctuations. Cascadia is a pure
advisory firm, and unlike other investment banks, is not conflicted
by trading, lending, research or cross selling business. For over a
decade, the firm has delivered the best outcomes for clients based on
its transaction experience, domain expertise and commitment to
building long-term relationships. Cascadia always acts in the
long-term interests of clients, and honors its position as a trusted
advisor. For more information, visit http://www.cascadiacapital.com.
Barokas PR for Cascadia Capital
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