06 Apr, 2021, 15:34 ET
DENVER, April 6, 2021 /PRNewswire/ -- OUTWARD HOUND, a portfolio company of Prospect Hill Growth Partners, has acquired BEST FRIENDS BY SHERI in a deal announced today.
BEST FRIENDS BY SHERI was founded by Sherry Samani in 2009. Originally focused on producing homeware textiles, Sherry noticed her pomeranian Kudo enjoyed sleeping on some of her fabric swatches. Realizing that there was a gap in the market for high-quality, fashionable pet beds, Sherry went to work and BEST FRIENDS BY SHERI was born. Over ten years later, BEST FRIENDS BY SHERI's product portfolio includes some of the best selling pet beds in the industry.
Known particularly for the Original Calming Donut Pet Bed, BEST FRIENDS BY SHERI's innovative pet bed designs have been praised by FORBES, TODAY SHOW, and MARTHA STEWART.
"BEST FRIENDS BY SHERI is one of the strongest pet bed brands in the world with a great following and long history of success," said OUTWARD HOUND CEO Michael Black. "Sherry has done an amazing job building a product line that is beloved by pet parents and veterinarians alike. We're excited to expand OUTWARD HOUND's offerings into the growing pet bed category," said Mr. Black.
"The OUTWARD HOUND family of pet brands has always been built on innovation," said David Fiorentino, Partner at Prospect Hill Growth Partners. "Our acquisition strategy is to identify innovative brands with high growth potential. BEST FRIENDS BY SHERI meets and exceeds that criteria and we are excited to further grow OUTWARD HOUND with such a strong brand," said Mr. Fiorentino.
McDermott, Will, and Emery served as legal advisor to OUTWARD HOUND. Proskauer Rose and Andreas F. Pour, Esq. served as legal advisors and Hexagon Capital Alliance served as financial advisor to BEST FRIENDS BY SHERI.
About OUTWARD HOUND
Outward Hound® is a Prospect Hill Growth Partners Portfolio Company that is an award-winning innovator, creator, manufacturer and distributor of the highest quality toys, games, gear and feeders for dogs and cats. The company's portfolio of brands includes Outward Hound, Planet Dog, Petstages, Wholesome Pride Pet Treats, and Nina Ottosson treat puzzle toys. Outward Hound is headquartered outside of Denver in Centennial, CO. For more, visit OutwardHound.com and follow @OutwardHound on Instagram.
About Prospect Hill Growth Partners
Prospect Hill Growth Partners is a Boston-area private equity firm that makes control equity investments in North American consumer and healthcare growth companies. The partners at Prospect Hill have collectively invested $2.7 billion of capital in more than 35 portfolio companies over two decades. The partners' successful investment track record has been built on their sector-focused investment strategy and expertise, a robust operational value-add model, and strong alignment of interests. For more, visit www.prospecthillgrowth.com.
SOURCE Outward Hound
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