Harris Williams & Co. Advises Pro-Pet on its Pending Sale to Cargill
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces the pending sale of Pro-Pet, LLC (Pro-Pet), a portfolio company of H.I.G. Capital, LLC (H.I.G.), to Cargill, Inc. (Cargill). Pro-Pet is a leading provider of co-manufactured and private label pet food products. Harris Williams & Co. is serving as the exclusive advisor to Pro-Pet and the transaction is being led by Ryan Budlong, John Neuner, Ryan Freeman, Zach England and Richard Furseth of Harris Williams & Co.’s Consumer Group.
“Pro-Pet is a leading co-manufacturing partner to some of the largest and fastest growing pet food brands,” said Ryan Budlong, a managing director at Harris Williams & Co. “The company invested heavily in its super premium pet food manufacturing capabilities and is well positioned to continue growing under the Cargill umbrella.”
“We are delighted to represent Pro-Pet on its strategic sale to Cargill. This transaction represents our firm’s fifth successful deal in the pet sector since 2016, building on our track record of advising leading companies within the sector,” added Ryan Freeman, a director at Harris Williams & Co.
Pro-Pet is a leading provider of co-manufactured and private label pet food, offering both super premium and traditional products in a variety of packaging formats. Headquartered in St. Marys, Ohio, the company’s three SQF Level 3 certified facilities are strategically located across the Midwest, allowing it to cost effectively source high-quality ingredients and providing it convenient access to major distribution routes.
H.I.G. is a leading global private equity and alternative assets investment firm with $24 billion of equity capital under management. Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Mexico City and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach. Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion.
Cargill provides food, agriculture, financial and industrial products and services to the world. Together with farmers, customers, governments and communities, the company helps people thrive by applying its insights and more than 150 years of experience. Cargill has 155,000 employees in 70 countries who are committed to feeding the world in a responsible way, reducing environmental impact and improving the communities where they live and work.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams & Co.’s Consumer Group has completed more than 50 transactions in recent years across a variety of verticals, including branded consumer products; consumer services; food, beverage and agribusiness; and restaurant and retail. For more information on Harris Williams & Co.’s Consumer Group and other recent transactions, visit the Consumer Group’s section of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.