LOS ANGELES, Dec. 4, 2020 /PRNewswire/ -- Nexus Capital Management LP (together with certain affiliates, "Nexus"), a Los Angeles-based private equity firm, announced today it has signed a definitive agreement to acquire the Natural Balance premium pet food business from The J.M. Smucker Co. (NYSE: SJM). Natural Balance is a leading premium pet food brand specializing in high quality dog and cat food products sold exclusively through the pet specialty and ecommerce channels.
"We are extremely excited by the opportunity to acquire the Natural Balance business," said Damian Giangiacomo, Partner at Nexus. "We believe in the brand's strong legacy and the ability to reinvigorate the business as an independent company in partnership with the strong management team we have assembled."
"We are pleased to announce that Brian Connolly will lead the new Natural Balance business as CEO," Giangiacomo continued. "Brian played a critical role on our deal team throughout due diligence and crafting the go-forward strategic and operating plan for the business. Brian's successful 20 years of experience in pet food as the co-founder of Castor & Pollux and former board member at Merrick Pet Care ideally position the Natural Balance brand for continued relevance with pet specialty retailers and pet owners."
Brian Connolly added, "Natural Balance has long held a leading position as a pioneer in the premium pet food industry. I look forward to working with the Nexus and Natural Balance teams in a new phase of investment, innovation and increased commitment to the pet specialty channel and its customers."
Natural Balance's product offering consists of a broad range of premium dog and cat food and treats formulated with a specific focus on nutritional innovation, high-quality ingredients and strong food safety standards. This positioning is best represented by the brand's "Feed with Confidence" program, which promises to provide consumers products that they can confidently and comfortably feed their pets to ensure they are getting the high-quality nutrition they deserve.
"We believe Nexus' extensive experience investing in consumer brands paired with Brian and his team's track record in pet can drive accelerated growth at Natural Balance," Giangiacomo concluded. "On behalf of Nexus, I would like to express my gratitude to the Smucker team for working with us on this transaction. We look forward to working closely with them and the company's employees to close the transaction and transition the business."
Nexus was represented by Kirkland & Ellis LLP on legal matters.
About Natural Balance
Natural Balance is a leading premium pet food brand specializing in high-quality dog and cat food products sold exclusively through the pet specialty and ecommerce channels. Natural Balance has a 30+ year history in premium formulations and was a pioneer of limited ingredient diets.
For more information on Natural Balance, please visit www.naturalbalanceinc.com.
About Nexus Capital Management LP
Nexus is an alternative asset investment management company based in Los Angeles, California that was founded in 2013. Nexus employs a flexible investment mandate that focuses on long-term value creation by partnering with leading management teams and businesses.
For more information on Nexus, please visit www.nexuslp.com.
SOURCE Nexus Capital Management LP