Tollden Farms, a leading Canadian producer of frozen raw pet food, recently became the fifth manufacturer in Canada to join the Dane Creek Capital Corporation (DCCC). The acquisition was made by Untied Raw Pet Foods, which is 70 percent owned by DCCC and 30 percent owned by other shareholders of DCCC.
According to DCCC, the purchase price represents 1.1 times trailing 12-month revenues. The acquisition was an all-cash transaction. No other terms were announced.
“We are delighted to make this announcement” said Mark Warren, Chairman and CEO of DCCC. “Over the last several weeks we have witnessed a dramatic shift in consumer buying habits, many of which we believe will outlast the current health crisis being faced by Canadians. While we are not naive about the long-term impact on the overall Canadian economy, we also believe that the sudden and significant growth in the ‘stay at home economy’ witnessed recently will outlast the current economic turmoil and benefit the pet industry specifically. Pet ownership is central to that economy as people stay close to home and ‘nest’. Dogs and cats are family and as such play an important role in reducing overall stress in these tougher times. The Tollden Farms brand is loved and trusted by Canadian pet owners and as such is only set to grow further in this current environment.”