Olympus Partners, a Stamford-based private equity firm, has acquired Petmate Holdings Co., an Arlington, Texas-based supplier of nonfood pet products to retailers. The terms of the acquisition were not disclosed. The transaction is Olympus’ eighth investment out of its $2.3 billion sixth fund.
Founded in 1988, Olympus manages in excess of $5.5 billion on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs.
“Petmate is a highly attractive platform in the pet industry that is well positioned to capitalize on the industry’s growth through multiple sales channels,” said Paul Rubin, partner at Olympus.
“We are happy to partner with Olympus and believe they are ideally positioned to support our next phase of growth and development,” said Alice Tillett, CEO of Petmate. “We look forward to working with them as we continue to focus on building out the leading pet products company and bringing innovative new ideas and products to our customers.”
Petmate’s product line includes crates and carriers, outdoor shelters, feeding and watering, and a wide selection of toys. Petmate serves its market through big box pet retailers, mass merchandisers, major e-commerce retailers, farm and ag stores and specialty pet stores.