M&A Deal Summary

Big Heart Pet Brands Acquires Natural Balance

On July 15, 2013, Big Heart Pet Brands acquired food company Natural Balance from VMG Partners

Acquisition Highlights
  • This is Big Heart Pet Brands’ 1st transaction in the Food sector.
  • This is Big Heart Pet Brands’ 1st transaction in the United States.
  • This is Big Heart Pet Brands’ 1st transaction in California.
Investment Fate
  • Natural Balance was divested to a consortium of strategic buyers in 2015.
  • Natural Balance was divested to a consortium of buyers in 2020.

M&A Deal Summary

Date 2013-07-15
Target Natural Balance
Sector Food
Buyer(s) Big Heart Pet Brands
Sellers(s) VMG Partners
Deal Type Add-on Acquisition

Target

Natural Balance

San Diego, California, United States
Natural Balance is a premium pet food brand specializing in high-quality dog and cat food products sold exclusively through the pet specialty and eCommerce channels. Natural Balance has a 30+ year history in premium formulations and was a pioneer of limited ingredient diets. Natural Balance was founded in 1989 and is based in San Diego, California.

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Buyer(S) 1

Buyer

Big Heart Pet Brands

San Francisco, California, United States

Category Company
Founded 1916
Sector Food
Employees2,200
Revenue 3.6B USD (2012)
DESCRIPTION

Big Heart Pet Brands is a standalone producer, distributor and marketer of premium quality, branded pet food and pet snacks. The Company’s purpose is to nurture the bond between pets and the people who love them – making every day special. Its portfolio of brands, with a foundation in dog and cat food and treats, strives to cater to every pet life stage and every family’s budget through the availability and accessibility of its products.


DEAL STATS #
Overall 1 of 1
Sector (Food) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2013) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-06 Natural Balance

San Diego, California, United States

Natural Balance is a premium pet food brand specializing in high-quality dog and cat food products sold exclusively through the pet specialty and eCommerce channels. Natural Balance has a 30+ year history in premium formulations and was a pioneer of limited ingredient diets. Natural Balance was founded in 1989 and is based in San Diego, California.

Sell -

Seller(S) 1

SELLER

VMG Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 2.6B USD
Size Large
Type Sector Focused
DESCRIPTION

VMG Partners is a private equity firm focused on early and growth stage investing in consumer products companies. VMG has a specific interest in the lifestyle, wellness, food and beverage, personal care, pet and leisure sectors of the consumer products industry. VMG targets US-based companies with revenues between $15 and $150 million. VMG was formed in 2005 and has offices in San Francisco and Los Angeles.


DEAL STATS #
Overall 6 of 21
Sector (Food) 4 of 12
Type (Add-on Acquisition) 6 of 18
State (California) 3 of 10
Country (United States) 6 of 20
Year (2013) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-10 Robert s American Gourmet Food

Sea Cliff, New York, United States

Robert's American Gourmet Food LLC (dba Pirate Brands) markets and sells better-for-you, salty snacks to natural and mainstream retailers nationwide. The company offers a variety of natural snacks made from puffed corn and rice, heart-healthy oils and high quality natural seasonings including real aged white cheddar, spinach and kale. Pirate Brands’ products include Pirate’s Booty, Smart Puffs and Tings among others.

Sell $195M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-01 Solid Gold Health Products For Pets

El Cajon, California, United States

Solid Gold Health Products For Pets is a provider of food products, supplements, and skin care products for pets.

Buy -