On January 23, 2018 TDBBS LLC, a portfolio company of Bregal Partners, announced the appointment of Tim Hassett as CEO. TDBBS that was founded in Richmond, Virginia, provides dog treats and chews through brands such as Best Bully Sticks, Barkworthies and Paw Luxury.
Prior to his appointment, Hassett was president at Americas of Beam Suntory. He previously was Chief Customer Officer for North America for Campbell Soups and also held positions at at Kellogg’s and Procter & Gamble. “I am very excited for the opportunity to drive value creation at an organization as dynamic as TDBBS,” said Hassett. “The company has enormous potential, and I look forward to working closely with Bregal Partners and the management team in further growing TDBBS,” he added.
Hassett’s appointment follows a growth investment in the company by leading middle market private equity firm Bregal Partners. The investment was made in partnership with the Company’s founder and management team, who remain significant shareholders in the business. Harris Williams advised advised TDBBS and Dechert represented Bregal Partners. BMO Sponsory Finance provided financing. Financial terms of the deal were not disclosed.
Avrum Elmakis, TDBBS’s founder, said, “We are incredibly excited to bring Tim on board and to partner with Bregal.” “The Bregal team has many years of experience in the pet industry, which will prove to be an invaluable asset to the company going forward,” Elmakis said. “I have never been more excited about the growth prospects of the business, and I think we have an opportunity in the coming years to truly establish ourselves as the clear leaders in the natural chews category,” he added.