Swedencare, a pet healthcare company, revealed the completition of the acquisition of US-based NaturVet for $447.5 million.
NaturVet recorded a sales amount of $48.4 million. The company could increase the sales from October 2020 to September 2021 to $60.6 million.
NaturVet was founded in 1994 by Garmon Corp. It has a wide range of therapy supplements for pets supporting joint, digestion and allergies. The production site, located in California, manufactures powders, liquids, chews and soft chews. The company wants to launch a new series of products this year including superfoods.
“NaturVet is a dream partner and the acquisition means that we take a big leap towards our goal to become a leading global pet healthcare group within nutraceutical and dermatology premium products to pets and companion horses,” said Håkan Lagerberg, chief executive officer, Swedencare. “Through the acquisition, we get a broad, well known and appreciated product portfolio, a high-quality product facility that can be considered a leader in soft chews and fantastic customer coverage in the US as we now add to our approximately 15,000 veterinary clinics the same number of pet shops while increasing our online share significantly.”
NaturVet’s Founder and Chief Executive Officer Scott Garmon will remain leader of the company.
“I am excited about our transaction with Swedencare as it will enhance our ability to introduce new categories from the Swedencare Group offerings and continue to grow our industry leading products like ArthriSoothe, Quiet Moments, GrassSaver and No Scoot,” Garmon said. “NaturVet will also be completing our third soft chew line, increasing production capacity by 100%, thus allowing us to lead the industry with our 98% fill rate.”