Perfection Pet Foods has been sold to Post Holdings
Perfection Pet Foods
Perfection Pet Foods is a leading manufacturer and packager of private label and co-manufactured pet food and baked treat products.
Perfection Pet Foods engaged Lincoln International, a global investment banking advisory firm, as the exclusive financial advisor. The Lincoln team provided valuable industry expertise and managed all aspects of the process, including the preparatory, marketing, negotiation and due diligence phases of the transaction. The acquisition includes two manufacturing facilities in Visalia, California, which will provide Post Holdings with additional manufacturing capacity to insource a portion of its current pet food business and an entry point into the private label and co-manufacturing pet food category. The financial results of Perfection Pet Foods are expected to be reported in the Post Consumer Brands segment.
Charles Walder, Lincoln International Managing Director who led the transaction, commented, “Perfection Pet Foods’ impressive manufacturing capabilities, strong track record and unique West Coast presence attracted great interest from both strategic and financial acquirers. During the transaction, the company continued its strong momentum supporting its impressive customer base to further solidify its market position. We are grateful to have worked with a deeply experienced management team and look forward to seeing the company’s continued success through its new partnership with Post Holdings.”
Post Holdings, headquartered in St. Louis, is a consumer packaged goods holding company with businesses operating in the center-of-the-store, refrigerated, foodservice and food ingredient categories. Its businesses include Post Consumer Brands, Weetabix, Michael Foods and Bob Evans Farms. Post Consumer Brands is a leader in the North American ready-to-eat cereal and pet food categories and also markets Peter Pan® peanut butter. Weetabix is home to the UK’s number-one-selling ready-to-eat cereal brand, Weetabix®. Michael Foods and Bob Evans Farms are leaders in refrigerated foods, delivering innovative, value-added egg and refrigerated potato side dish products to the foodservice and retail channels. Post Holdings participates in the private brand food category through its ownership interest in 8th Avenue Food & Provisions, Inc.
We were extremely pleased with Lincoln's expertise in the private label pet food space and the seamless process executed by the team. The team managed the process from start to finish, leveraging their deep industry knowledge and buyer relationships to drive value throughout the transaction. We are excited to partner with Post Holdings and could not be happier with the outcome.
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