Dane Creek Capital acquires Canadian pet food manufacturer Tollden Farms
Dane Creek Capital, through its subsidiary United Raw Pet Foods, has acquired Canadian pet food manufacturer Tollden Farms for an undisclosed price.
Based in Kemptville, Ontario, Tollden Farms produces raw pet food, which can be found in pet specialty shops across Ontario and parts of Quebec.
The raw pet food manufacturer has been purchased by Dane Creek Capital for 1.1 times trailing twelve-month revenues of the former.
Dane Creek Capital holds a 70% stake in United Raw Pet Foods. The remaining 30% is held by other shareholders of Dane Creek Capital, which is a Canadian merchant banking venture focused on the pet industry.
Tollden Farms was established in 2002 by Annette McAleer and Kevin McAleer. The company’s frozen raw pet food recipes are said to use only human-grade meat and vegetables. The company’s protein range includes exotic meats such as kangaroo and boar, along with a selection of raw meaty bones.
Annette McAleer said: “We are excited to now be part of the Dane Creek team. My husband and I built this company around our passion for the health of companion animals and we are proud of the quality and care that goes into each and every batch of our food. United Raw shares our values and we believe this transaction is the best way for us to take Tollden Farms from a top regional raw pet food to a national leader.”
The pet food products from Tollden Farms are available in three varieties – meat and vegetable blends, meat and botanical blends, and a DIY diet, in which the pet owner can make a selection of ‘DIY’ meat and vegetable components suitable to their pets’ dieting needs.
Mark Warren – Chairman and CEO of Dane Creek Capital said: “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.”
Dane Creek Capital acquires Canadian pet food manufacturer Tollden Farms. Photo courtesy of Ludwig Willimann from Pixabay.
Tollden Farms marks the fifth acquisition for United Raw Pet Foods in the raw pet food category in Canada. The previous acquisitions made by United Raw Pet Foods are Mountain Dog Enterprises in October 2017, Pets 4 Life in January 2018, Naturawls Pet Products in April 2018, and Natural Chow Pet Food in June 2018.
In 2018, United Raw Pet Foods also acquired a minority stake in Pet Plate, which is a US-based direct-to-consumer brand of lightly cooked pet food.
With the acquisition of Tollden Farms, United Raw Pet Foods is now claimed to own the largest family of Canadian raw pet food brands.
Tollden Farms’ manufacturing facility in Kemptville will now be operated under United Raw Pet Foods, becoming the latter’s fourth manufacturing hub. The facility is part of a national Canadian network of frozen fresh raw pet food producers located across Alberta, Ontario, and Saskatchewan.