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L Catterton Sells Nature's Variety Stake to Agrolimen.

MANews-(C)2009-2016

12 May 2016 - US-based private equity firm L Catterton has sold its remaining stake in US-based pet food company Nature's Variety to the investment's joint venture partner Spain-based food industry company Agrolimen, the company said.

Terms of the transaction were not disclosed.

L Catterton invested in Nature's Variety in 2008; and Agrolimen became a joint venture partner in 2014.

Working together alongside Nature's Variety chief executive officer Reed Howlett, L Catterton and Agrolimen have developed a comprehensive brand positioning and go-to-market strategy for the brand.

Since L Catterton's investment, Nature's Variety has implemented a number of initiatives that have driven the business to quadruple in size and transformed Nature's Variety into the leading raw and raw-inspired pet food brand in North America.

Nature's Variety is an independent company producing premium, natural pet foods, with headquarters inSt. Louis and manufacturing operations in Lincoln, Nebraska.

L Catterton, formed in 2016 through the partnership of Catterton, LVMH and Groupe Arnault, operates multiple funds out of seventeen offices across five continents, investing in all major consumer segments.

Agrolimen is based in Barcelona, Spain, with leading brands in food and pet food industries as well as quick service restaurants. With more than 75 years of activity, it has established itself as one of the main European groups in these business areas.

Country: USA

Sector: Food/Beverages/Tobacco

Target: Nature's Variety

Buyer: Agrolimen

Vendor: LCatterton, other shareholders

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Closed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Date:May 12, 2016
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