Private equity firm Swander Pace Capital is, is selling Merrick Pet Care, a natural and organic pet food leader, to Nestlé Purina PetCare. Terms of the deal have not been disclosed.
Other selling shareholders include founder Garth Merrick, Monitor Clipper Partners, and Highland Consumer Partners.
Since Swander Pace acquired the company in 2010, Merrick has grown into a flagship brand in the natural and organic pet food category, with three leading brands, Merrick, Castor & Pollux and Whole Earth Farms, which are sold through specialty pet, natural grocery, and mass channels. The sale marks Swander Pace Capital’s second major exit in the pet food category after the sale of Eagle Pack Pet Foods to WellPet LLC in 2007.
“Merrick has grown significantly in the past five years, and I’m pleased to see the company join the Nestlé Purina family,” says Corby Reese, Managing Director for Swander Pace Capital and Chairman at Merrick. “CEO, Greg Shearson, and the leadership team have worked tirelessly to make Merrick a true leader in the natural and organic pet food category, and this sale marks the beginning of an exciting new chapter for the company.”
“We take pride in working with family-owned entrepreneurial businesses, and our relationship with Garth Merrick has been tremendous,” says Andrew Richards, managing director at Swander Pace Capital. “For the past five years, Swander Pace has partnered with Garth to grow Merrick into the well-known, respected brand it is today, and we wish him and the rest of the Merrick team all the best on the road ahead.”
Kirkland & Ellis LLP served as legal advisor to Swander Pace Capital, while Credit Suisse served as financial advisor.
