After acquiring Petmate, Platinum Equity brings on Cosmic Pet
Post-acquisition, the pet accessories company will be combined with Petmate.
Cosmic Pet owns a portfolio of brands, including Hyper Pet, Pet Fusion, Our Pets, Pet Zone, Wild Eats and Pet Craft Supply Co. They also have a large international sourcing operation to serve branded and private label customers.
“The U.S. pet industry continues to demonstrate steady growth fueled by increased consumer demand for products that improve the quality of life for pets. As the market grows, large national retailers are increasingly looking for partners with diverse and comprehensive product portfolios,” said Platinum Equity Managing Director Adam Cooper. “This combination will create a differentiated platform of scale with powerful brand equity, a unique and innovative product mix, diversified end channels, and expertise in both branded and private label offerings.”
Petmate CEO Alice Tillett will lead the combined company.
“Petmate and Cosmic Pet are an ideal fit, with complementary strengths and a shared commitment to serving the needs of passionate pet owners throughout the country,” said Ms. Tillett. “This is an exciting opportunity to bring together two best-in-class companies facilitating a transformational step in the growth and evolution of our business.”
Petmate was acquired by Platinum Equity in September.