Nexus Capital Management LP, a Los Angeles-based private equity firm, has signed a definitive agreement to acquire the Natural Balance premium pet food business from The J.M. Smucker Co.
“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.”
“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.”
Natural Balance’s product offering consists of a range of premium dog and cat food and treats. The company was represented by Kirkland & Ellis LLP on legal matters.
–AK
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.