Leading US pet food and supplies distribution business Animal Supply Company has been sold to Summit Partners and funds managed by Goldman Sachs.
In addition, Goldman Sachs and Summit have provided ‘significant’ operating and growth capital investment to support ASC.
“We are so appreciative of our independent pet retailers, vendors and employees for partnering with us on this journey, especially during this process,” said Don McIntyre, CEO of Animal Supply Company. “Our team is excited to work with Goldman Sachs and Summit as we look to renew and transform our business. Together, we will take our company to the next level in customer care, digital innovation and growth.”
Randy Reber, current chairman of the board and one of the founders of ASC, has joined the new board of managers.
“This transaction provides the financial and physical foundation upon which we can continue ‘Delivering Success’ to pet specialty independent retailers. This has always been our guiding principle from day one and will continue to be,” he said.
Randy, along with some other former owners of the company, will remain minority shareholders.
Animal Supply Company supplies distribution serving retailers throughout the US and the Caribbean, operating 21 facilities and employing about 1,200 people. The company has 7,000+ independent retail customers with more than 15,000 retail outlets distributing pet food and supplies.