Rumors become reality: Alphia has been acquired
PE firm PAI Partners is buying one of the largest pet food manufacturers in the US.
The rumors circulating a potential sale of American pet food manufacturer Alphia have proven true PAI Partners has agreed to acquire Alphia from its owner J.H. Whitney.
The terms of the deal have yet to be disclosed, but previous reports suggested that the company was looking to sell its business for $1 billion (€920M).
Alphia’s CEO and President David McLain expressed gratitude to J.H. Whitney and he noted the move comes as PAI is “committed to our ongoing vision for growth and shares the common values of innovation, food safety and industry leadership.”
“We are proud of the team and look forward to seeing Alphia continue its successful growth with PAI,” adds J.H. Whitney’s Senior Managing Director Robert Williams.
Building momentum
Alphia is a major pet industry contributor, manufacturing over 1 billion pounds of dry pet food and treats yearly. The Denver-based business has 6 facilities in the US.
Under the Alphia umbrella is LANI, an ingredient milling solutions business. Recently, the pet food manufacturer injected $5 million (€4.62M) into pet health and wellness company Better Choice. The move was motivated by Alphia’s desire to “establish a direct manufacturing relationship and stabilize business outlook.”
The deal will mark PAI’s second most prominent acquisition since 2021 when it purchased the juice brand Tropicana.
PAI is a global investment company and manages around €25 billion ($27B) of dedicated buyout funds. The firm has completed 100 investments of over €70 billion ($75.6B) across 12 countries since 1994.
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