Alphia injects $5 million in Better Choice
The capital injection aims to restructure debt from the firm’s subsidiary brands like Halo.
American pet food manufacturer Alphia recently invested $5 million (€4.58M) in pet health and wellness company Better Choice in a bid to “establish a direct manufacturing relationship and stabilize business outlook.”
For Alphia’s CEO, Dave McLain, the investment brings the firm closer to a “strong brand” that shares its values of highest product quality and food safety.
They will use strategies to increase company profit by reducing Better Choice’s debt—including that of its subsidiary brands such as Halo and Purely for Pets—and arranging a “promising” cash flow management plan.
“We look forward to working with Alphia, leveraging their investment and deep knowledge of the pet food manufacturing marketplace,” says Michael Young, Chairman at Better Choice.
Alphia’s investment news comes as rumors have been circulating that they are looking to potentially sell the business.