Worldwise acquires FurHaven to expand its omnichannel retailing strategy
With this investment, the company aims to create a leading platform on pet supplies and expand to new markets in Europe, Asia and America.
The California-based pet supplier – acquired by A&M Capital Partners last September – wants to “significantly increase” the entire business’s size, allowing it to serve its customer base better and enter into new product categories.
According to Worldwise CEO Kevin Fick, the company is reviewing how to leverage their expanded omnichannel in Europe, China and South American markets. “This will include opening new retail channels as well as looking at the opportunity to acquire leading brands,” he told PETS International.
The company also expects that this new acquisition will allow them to accelerate product growth online and in brick-and-mortar locations.
“Going forward, the Worldwise platform will continue to focus on product development and innovation, as well as potential M&A activity, in a variety of categories, including continuing to bolster our presence in Cat & Dog Toys & Accessories, Pet Travel & Safety, Litter Accessories and Pet Beds & Home Comfort Solutions,” said Fick.
Worldwise CEO will lead the brand and FurHaven’s Founder and CEO, Eric Heilborn, will also join the new management team focusing on driving e-commerce initiatives.
FurHaven was founded in 2004 in Washington state with a portfolio of pet accessories, including bedding, home and travel supplies.
The financial terms of the transaction have not been disclosed as they are confidential.