LOS ANGELES, Dec. 4, 2020 /PRNewswire/ -- Nexus Capital
Management LP (together with certain affiliates, "Nexus"), a
Los Angeles-based private equity
firm, announced today it has signed a definitive agreement to
acquire the Natural Balance premium pet food business from The J.M.
Smucker Co. (NYSE: SJM). Natural Balance is a leading premium pet
food brand specializing in high quality dog and cat food products
sold exclusively through the pet specialty and ecommerce
channels.
"We are extremely excited by the opportunity to acquire the
Natural Balance business," said Damian
Giangiacomo, Partner at Nexus. "We believe in the brand's
strong legacy and the ability to reinvigorate the business as an
independent company in partnership with the strong management team
we have assembled."
"We are pleased to announce that Brian Connolly will lead
the new Natural Balance business as CEO," Giangiacomo continued.
"Brian played a critical role on our deal team throughout due
diligence and crafting the go-forward strategic and operating plan
for the business. Brian's successful 20 years of experience in pet
food as the co-founder of Castor & Pollux and former board
member at Merrick Pet Care ideally position the Natural Balance
brand for continued relevance with pet specialty retailers and pet
owners."
Brian Connolly added, "Natural
Balance has long held a leading position as a pioneer in the
premium pet food industry. I look forward to working with the Nexus
and Natural Balance teams in a new phase of investment, innovation
and increased commitment to the pet specialty channel and its
customers."
Natural Balance's product offering consists of a broad range of
premium dog and cat food and treats formulated with a specific
focus on nutritional innovation, high-quality ingredients and
strong food safety standards. This positioning is best represented
by the brand's "Feed with Confidence" program, which promises to
provide consumers products that they can confidently and
comfortably feed their pets to ensure they are getting the
high-quality nutrition they deserve.
"We believe Nexus' extensive experience investing in consumer
brands paired with Brian and his team's track record in pet can
drive accelerated growth at Natural Balance," Giangiacomo
concluded. "On behalf of Nexus, I would like to express my
gratitude to the Smucker team for working with us on this
transaction. We look forward to working closely with them and the
company's employees to close the transaction and transition the
business."
Nexus was represented by Kirkland & Ellis LLP on legal
matters.
About Natural Balance
Natural Balance is a leading premium pet food brand specializing
in high-quality dog and cat food products sold exclusively through
the pet specialty and ecommerce channels. Natural Balance has a 30+
year history in premium formulations and was a pioneer of limited
ingredient diets.
For more information on Natural Balance, please visit
www.naturalbalanceinc.com.
About Nexus Capital Management LP
Nexus is an alternative asset investment management company
based in Los Angeles, California
that was founded in 2013. Nexus employs a flexible investment
mandate that focuses on long-term value creation by partnering with
leading management teams and businesses.
For more information on Nexus, please visit www.nexuslp.com.
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SOURCE Nexus Capital Management LP