Gryphon Investors, a middle-market private equity firm, acquired Vetnique Labs, a Naperville, IL-based company that develops a range of specialty pet products.
Financial terms of the transaction were not disclosed. Gryphon Operating Partner Mike Ferry, Eddie Douglas, Principal in Gryphon’s Consumer Group, and Matt Farron, Partner and Head of Gryphon’s Consumer Group, will join the company’s Board of Directors.
In partnership with founder and CEO James Bascharon DVM, who will remain in his current role and maintain a significant stake in the business, Gryphon will invest in expanding the company’s product and geographic reach while developing and delivering new products.
Vetnique develops a range of specialty pet products including supplements and topical solutions for digestive health, allergy and dermatological support, ear care, active lifestyle, and calming support. With nine separate sub-brands, Vetnique is sold domestically and abroad through a variety of channels, including direct to consumer, through pet specialty retail outlets, and through veterinary distributors. The company is known for its iconic Glandex supplement and has developed a full range of nose-to-tail solutions featuring clinically proven ingredients.
The transaction marks Gryphon’s first investment in the pet products space and second investment in the broader pet health and wellness ecosystem, following its 2019 investment in veterinary support organization Heartland Veterinary Partners.
FinSMEs
27/04/2023