Agrolimen invests in Catterton-backed Nature’s Variety

Nature’s Variety, which is backed by Catterton, has received an undisclosed investment from Agrolimen. Based in St. Louis, Nature’s Variety is a maker of natural pet foods.

PRESS RELEASE

ST. LOUIS and BARCELONA, Spain (July 18, 2014) – Nature’s Variety announced today that Agrolimen has made an investment in the St. Louis-based independent natural pet food company. Nature’s Variety will continue to operate as an independent company through a joint venture between its current shareholders, including Catterton, the leading consumer-focused private equity firm, and Agrolimen.

“Our purpose as a company is to empower people to transform the lives of pets,” said Reed Howlett, CEO of Nature’s Variety. “We’ve built a team of passionate pet champions who believe in this purpose and bring it to life through not only our nutritious foods, but also by volunteering for and aiding rescue groups in their communities.

“In Agrolimen, we’ve found a well-aligned partner who will enable us to further accelerate our growth through marketing and innovation investments,” Howlett added. “We are confident that Agrolimen will help expand our role as the leader of the raw pet food category and support our commitment to pet parents in an even greater way moving forward.”

“With this joint venture, Agrolimen moves forward within its strategic plan of international growth of its core businesses,” said Joan Cornudella, CEO of Agrolimen. “We believe we have found the ideal partner in Nature’s Variety. The company has a unique value proposition and position in the market, the team has a proven track record in partnering with pet specialty retailers and distributors to bring innovative products to market, and a clear vision to drive continued growth.”

“We have greatly enjoyed building the Nature’s Variety business in partnership with Reed Howlett and the management team over the last six years, and look forward to continuing this partnership with the addition of Agrolimen,” said Scott A. Dahnke, Managing Partner of Catterton. “Working with the outstanding team at Nature’s Variety, we have been able to grow the business more than four-fold, helping more pets to benefit from Nature’s Variety’s healthy, natural holistic nutrition. We are excited to partner with Agrolimen to drive the company’s next period of growth and success.”

Nature’s Variety will continue to be headquartered in St. Louis with operations in Lincoln, Neb. and will keep operating as an independent company. Nature’s Variety produces natural pet food through two brands – Instinct®, the leader in raw pet food; and Prairie®, a balanced holistic line of food. Its brands are sold in over 10,000 pet specialty retailers worldwide.

About Nature’s Variety
Nature’s Variety is an independent company producing premium, natural pet foods. The company was founded by Bob Milligan and Nature’s Variety was introduced to the retail market in 2002. It is headquartered in St. Louis with manufacturing operations in Lincoln. Neb. Nature’s Variety produces pet food through two brands – Instinct®, the leader in raw pet food; and Prairie®, a balanced holistic line of food – and frozen dog treats through the SweetSpots® brand. The Instinct® brand includes Pride by Instinct®, Instinct® Raw Boost®, Instinct® Limited Ingredient Diets and Instinct® Healthy Weight. The Prairie® brand includes Homestyle by Prairie®. For more information about Nature’s Variety, visit NaturesVariety.com. For more information on Instinct®, visit InstinctPetFood.com. For more information on Prairie®, visit PrairiePetFood.com.

About Agrolimen
Agrolimen is a Spanish group specialized in consumer goods, with leading brands in food and pet food industries and well as quick service restaurants. With more than 75 years of activity, it has established itself as one of the main European groups in these business areas. Agrolimen has presence in more than 75 countries and among its subsidiaries stand out Gallina Blanca Star (food), Affinity Petcare (pet food), Bicentury (weight control and weight management products), The Eat Out Group (quick service restaurants, with brands like Pans&Company, FrescCo, Dehesa Santa María…) and Consorcio del Jabugo.

About Catterton
Catterton is the leading consumer-focused private equity firm with more than $4.0 billion currently under management and a twenty-five year track record of success in building high growth companies. Since its founding in 1989, Catterton has leveraged its category insight, strategic and operating skills, and network of industry contacts to establish one of the strongest private equity investment track records in the middle market. Catterton invests in all major consumer segments, including Food and Beverage, Retail and Restaurants, Consumer Products and Services, Consumer Health, and Media and Marketing Services. Catterton’s investments include: Restoration Hardware, Plum Organics, Baccarat, PIRCH, Outback Steakhouse, Sweet Leaf Tea, Noodles & Company, PIADA, Heartland RV, Frederic Fekkai, Build-A-Bear Workshop, Wellness and Nature’s Variety pet foods, Kettle Foods, Odwalla and P.F. Chang’s, to name a few. More information about Catterton can be found at www.cpequity.com.

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