Worldwise® Announces Merger with Quaker Pet Group™
Merger combines successful pet supplies companies with complementary product offerings and shared vision
SAN RAFAEL, Calif., May 28, 2015 /PRNewswire/ -- Worldwise®, a leading manufacturer of branded pet products, announced today that it is merging with Quaker Pet Group™ (QPG), a leading innovator of dog toys and pet carriers. The merger will bring together two leading pet accessory companies and combine their expertise, innovation and creative energy. The two companies will operate on the Worldwise platform and will continue to build on the successful brands each has built in the marketplace.
The merger enables Worldwise, a leader in pet bedding, cat scratchers, cat toys and other cat accessories, to become an established and trusted resource in the high-growth dog toy and carrier markets. Worldwise's brand line up of Petlinks®, SmartyKat®, TrustyPup® and kathy ireland® Loved Ones will be expanded with QPG's successful SHERPA®, goDog™ and Hear Doggy!™, product lines. Both companies' brands are highly regarded and in the top position of their respective categories. Together, the combined company will reach across multiple product segments and distribution channels and will continue to grow aggressively both domestically and internationally.
"We are extremely excited to add QPG's proven brands and products to the Worldwise family," said Kevin Fick, CEO of Worldwise. "Worldwise and QPG both stand for innovative, solution-based, quality products that enhance the lives of pets and pet parents. The core competencies of Worldwise and QPG complement each other perfectly, making this a win-win for both companies, as well as retailers and consumers. The new combined company will be able to better service the needs of retailers and bring more innovation to pets and pet parents around the world. In addition, this merger enhances our ability to further acquire brands in the highly fragmented pet accessory market, and to continue to roll out internally developed new product lines."
David Blatte and Neil Werde, the founders of QPG, will continue to be involved in the business. Mr. Werde and the talented original QPG team of design & development professionals will remain focused on creating new and compelling pet products, while Mr. Blatte will join the Worldwise board of directors and focus on acquisitions to continue Worldwise's aggressive growth strategy.
Worldwise is a portfolio company of Mistral Equity Partners, a consumer-focused private equity firm.
About Worldwise®
Petlinks®, SmartyKat®, TrustyPup® and kathy ireland® Loved Ones products are manufactured by Worldwise®, a leading consumer pet products company. By developing innovative, solution-based and high-quality products from environmental materials whenever possible, Worldwise brands are changing consumer beliefs about the look, feel, price and performance of environmentally-responsible products. www.worldwise.com
About Quaker Pet Group™
Founded in 2010 by pet lovers and industry veterans, Quaker Pet Group is dedicated to providing the best quality products for pets and their pet-parents. Comprised of a portfolio of carefully chosen and industry leading brands, QPG represents high-quality, innovative, solution-based products and proprietary collections such as SHERPA®, goDog™ and Hear Doggy!™ products. www.quakerpetgroup.com
About Mistral Equity Partners
Mistral Equity Partners is a private equity firm comprised of highly experienced investment professionals and seasoned industry executives. The Firm specializes in the consumer, retail and consumer focused media sectors, and is especially attracted to businesses that are supported by strong demographic trends and fundamental changes in consumer preferences.
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