L Catterton invests in pet food brand


L Catterton has made an investment in Boulder, Colorado-based pet food brand “I and love and you.” No financial terms were disclosed.

PRESS RELEASE

BOULDER, Colo. and GREENWICH, Conn., April 4, 2017 /PRNewswire/ — “I and love and you,” one of the fastest-growing premium dog and cat food brands in grocery stores across the U.S., today announced that it has received a significant growth investment from L Catterton, the largest consumer-focused private equity firm in the world. L Catterton’s investment will be used to further accelerate growth and expansion of “I and love and you” nationally. The investment was made from L Catterton’s Growth Fund. Terms of the transaction were not disclosed.

“I and love and you” offers a full assortment of natural dog and cat food products that are among the highest quality in the industry. Both of its flagship lines of kibble – Naked Essentials™ and Nude Food™ – have earned the coveted five-star rating from www.dogfoodadvisor.com, the preeminent independent authority on pet food, and the company is the first pet food brand to receive recognition as “Best In Class” by a new report from the Clean Label Project, a national nonprofit focused on health and transparency in labeling on consumer products. “I and love and you” recently launched its first national print advertising campaign in top consumer magazines and plans to further bolster its offering later this year with the introduction of a number of exciting new products never before available in the grocery channel.

“As pet parents place an increasing focus on the health, safety, and wellbeing of their pets, it’s important that we stay at the forefront of the industry,” said Kevin Hall, CEO, “I and love and you”. “This investment from L Catterton will enable ‘I and love and you’ to continue to be a leading innovator and voice in the premium pet food category. L Catterton’s unparalleled experience building leading consumer brands – including in pet food– made them the ideal partner as we further our marketing efforts and continue to extend our reach with millennial consumers and new retailers.”

“We are excited to partner with the outstanding team at ‘I and love and you,’ which has built a remarkable line of premium pet food products with a differentiated and emotive brand positioning that deeply resonates with consumers,” said Howard Steyn, Partner, L Catterton Growth Fund. “We see a tremendous opportunity to accelerate the company’s growth and help the brand achieve national scale, making these unique high-quality products available to pet parents across the country.”

L Catterton has significant experience investing in the pet care and pet food space, with current and past investments including Ainsworth (the parent company of the Nutrish brand), Nature’s Variety, Wellness Pet Food, Lily’s Kitchen, Inspired Pet Nutrition and PetVet Care Centers.

Other initial investment partners of “I and love and you” include Winona Capital Management, which provided the company a round of financing in 2014, and Revelry Brands, an investment group that has supported the company’s growth since the brand launched in 2012.

About “I and love and you”
Based in Boulder, CO, “I and love and you” makes super-premium pet food and treats that contain everything pets need to be happy and healthy, and none of what they don’t. All products are made with real meat, fish, or poultry and contain no grains, fillers, or anything artificial. All food recipes are approved by a holistic veterinarian for uncompromising quality. “I and love and you” symbolizes the deep bond of love between a pet and pet parent and everything we do helps nourish that love. “I and love and you” is lovingly made in the USA with handpicked ingredients from around the world and can be conveniently found at your local grocery store or online.

About L Catterton
L Catterton, formed in 2016 through the partnership of Catterton, LVMH and Groupe Arnault, is the largest consumer-focused private equity firm in the world, operating multiple funds out of seventeen offices across five continents. 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. L Catterton builds on this heritage and the strong track record of LVMH and Groupe Arnault’s existing European and Asian private equity and real estate operations, conducted under the L Capital and L Real Estate franchises. L Catterton invests in all major consumer segments, including: Food and Beverage, Retail and Restaurants, Beauty and Wellness, Fashion and Accessories, Consumer Products and Services, Consumer Health, and Media and Marketing Services, as well as real estate projects anchored by luxury retail. L Catterton’s investments include: Peloton, Restoration Hardware, CorePower Yoga, Sweaty Betty, Outback Steakhouse, Plum Organics, CHOPT Creative Salad Company, Mendocino Farms, Noodles & Company, PIADA, Hopdoddy, Vroom, Snap Kitchen, Frederic Fekkai, PIRCH, Build-A-Bear Workshop, Wellness pet food, Nature’s Variety pet food, Kettle Foods, Odwalla, P.F. Chang’s, Ba&sh, Sandro & Maje, CellularLine, Vicini / Zanotti, Cigierre, Gant, Nutrition and Sante, Pepe Jeans & Hackett, 2XU, Charles & Keith, Marubi, Bateel, Sasseur, Emperor Watch and Jewelry, Miami Design District and G6 in Ginza – Tokyo, to name a few. More information about L Catterton can be found at http://lcatterton.com.

About Winona Capital
Winona Capital provides acquisition and growth capital in lower middle-market consumer and retail companies that have attractive revenue and brand enhancement opportunities. Winona partners with high energy, passionate executives who have a shared focus on building great brands with sustained growth over long-term investment horizons. Winona Capital manages more than $300 million on behalf of its family office and institutional investors. For more information, please visit www.winonacapital.com.

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