Investment Will Support Global Expansion of
Pet Health and Wellness Brands and Provide Science-Backed
Support for Companion Animals Worldwide
SAN FRANCISCO, July 9, 2024 /PRNewswire/ -- Vetnique Labs
("Vetnique"), a leading pet health and wellness company, today
announced that it has agreed to acquire Lintbells, a globally
recognized leader in pet supplements sold under the YuMOVE brand,
from European mid-market private equity investor Inflexion.
Vetnique is backed by Gryphon Investors ("Gryphon"), a leading
middle-market private equity firm based in San Francisco. Financial terms of the
transaction, which is expected to close in the third quarter of
2024, were not disclosed.
YuMOVE is the U.K.'s number one joint mobility supplement for
dogs and cats and also offers supplements that support digestive
health, anxiety, dermatological and dental needs. Based in
Hertfordshire, U.K., and founded
two decades ago by Dr. John Howie DL and John Davies, YuMOVE aims to provide pets and
their owners with scientifically supported supplements to manage
chronic health conditions. It is also a certified B Corporation, a
distinction achieved based on its high standards in ESG
performance.
Vetnique develops a range of specialty pet products, which are
vet-founded, vet-formulated and vet-recommended, including
supplements and topical solutions for digestive health, allergy and
dermatological support, and ear care. The company is best known for
its Glandex supplement, which is North
America's number one solution for anal gland disease.
Vetnique and YuMOVE are both omnichannel businesses with a shared
vision to offer highly efficacious, veterinary-endorsed supplements
through pet specialty retail outlets, veterinary distributors, and
direct-to-consumer.
Chris Slager, Executive Chairman
of the newly combined company, said, "We are thrilled to unite
these well-known brands and expand our presence in two of the
largest pet supplement markets in the world, the U.S. and the U.K.
Our combined portfolio greatly increases our company's scale across
the key areas of hip & joint and digestive and will allow us to
bring science-backed formulations, clinical efficacy, and patented
products to consumers worldwide."
Vetnique founder James Bascharon, DVM will remain CEO of
Vetnique, with responsibility for North
America operations. Fiona Hope will continue to serve
as CEO of YuMOVE, with responsibility for the U.K., Europe, and the rest of the world.
Dr. Bascharon commented, "Our vision with Gryphon has always
been to create a global pet health and wellness platform in the
$3 billion supplement market. We are
excited to build on our track record of profitable growth and help
accelerate YuMOVE's products in North
America. Together we can broaden our offering of
differentiated products and solutions that are consistently
recommended by veterinarians and provide real and lasting benefits
for pets."
Ms. Hope added, "We look forward to joining forces with Vetnique
and together exploring opportunities to realize the global
potential of our complementary pet portfolio. We are also excited
to gain access to Gryphon's resources and expertise, which we
believe will reinforce our mission of enhancing the quality of life
for pets and can help unlock significant value during our
partnership."
The transaction significantly expands Gryphon's pet products
portfolio. In addition to Vetnique, the firm also has a presence in
the broader pet health and wellness ecosystem through its 2019
investment in veterinary support organization Heartland Veterinary
Partners.
Matt Farron, Deal Partner and
Co-Head of Gryphon's Consumer Group, and Eddie Douglas, Managing Director in the Consumer
Group, noted, "We have been proud to support James and his
outstanding team over the past 12 months, and we are delighted to
help Vetnique achieve the next step of its growth by partnering
with Fiona and her organization at YuMOVE. We believe that together
this platform is a leader in highly efficacious pet health and
wellness that stands for quality, research and innovation, and
sustainability."
Raymond James served as financial
advisor and Kirkland & Ellis LLP acted as legal advisor to
Gryphon and Vetnique.
About Vetnique Labs
Naperville, IL-based Vetnique Labs is a
leading pet health and wellness platform on a mission to help pets
thrive. Since its founding in 2012 by James Bascharon, DVM, the
Company, best known for its iconic Glandex supplement, has
evolved into one of the fastest growing omni-channel pet
brands in North America.
Vetnique's product portfolio now consists of clinically
proven, multi-modal pet health products that are vet-formulated and
recommended by vets worldwide. Learn more about Vetnique Labs
at vetniquelabs.com.
About Gryphon Investors
Gryphon Investors (www.gryphoninvestors.com) is a leading
middle-market private equity firm focused on profitably-growing and
competitively-advantaged companies in the Business Services,
Consumer, Healthcare, Industrial Growth, and Software sectors. With
approximately $9 billion of assets
under management, Gryphon prioritizes investments in which it can
form strong partnerships with founders, owners, and executives to
accelerate the building of leading companies and generate enduring
value through its integrated deal and operations business model.
Gryphon's highly-differentiated model integrates its well-proven
Operations Resources Group, which is led by full-time, Gryphon
senior operating executives with general management, human capital
acquisition and development, treasury, finance, and accounting
expertise. Gryphon's three core investment strategies include its
Flagship, Heritage, and Junior Capital strategies, each with
dedicated funds of capital. The Flagship and Heritage strategies
target equity investments of $50
million to $350 million per
portfolio company. The Junior Capital strategy targets investments
in junior securities of credit facilities, arranged by leading
middle-market lenders, in both Gryphon-controlled companies, as
well as in other private equity-backed companies operating in
Gryphon's targeted investment sectors.
Contact:
Lambert
Caroline Luz
203-570-6462
cluz@lambert.com
or
Jennifer Hurson
845-507-0571
jhurson@lambert.com
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