PE Deals

Beach Point takes controlling stake in pet food manufacturer Wet Noses

The acquisition follows Beach Point's minority investment in Wet Noses in December 2019.

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  • As part of the transaction, Wet Noses founder Galligan will return to the company as CEO, along with the former COO Jeff Quinn
  • Wet Noses was founded in 1998
  • Beach Point Capital Management manages $14.5 billion in assets under management

Beach Point Capital Management has acquired a controlling stake in Wet Noses, a maker of natural and organic pet food and treats. No financial terms were disclosed.

The acquisition follows Beach Point’s minority investment in Wet Noses in December 2019.

As part of the transaction, Wet Noses founder Galligan will return to the company as CEO, along with the former Chief Operating Officer Jeff Quinn.

Wet Noses was founded in 1998.

Robert Bergmann, a portfolio manager at Beach Point, said in a statement, “We are thrilled to support Wet Noses’ growth during an inflection point in the pet food industry, where consumers, retailers and brand partners are all exhibiting rapidly growing demand for the company’s products including human-grade baked pet treats.”

Based in Santa Monica, California, Beach Point Capital Management manages $14.5 billion in assets under management.