Houlihan Lokey Advises BrightPet

Houlihan Lokey is pleased to announce that BrightPet Nutrition Group, LLC (BrightPet), a portfolio company of Graham Partners, has been acquired by Alvarez & Marsal Capital Partners (A&M Capital Partners). Financial terms of the transaction were not disclosed. The deal closed on September 25, 2020.

BrightPet is an industry leader in the development and manufacturing of co-pack, private-label, and branded pet food and treats. Formed by Graham Partners in April 2016 through the acquisition and combination of Ohio Pet Foods, Inc., Blackwood Pet Food, LLC, and Southern Tier Pet Nutrition, LLC, the company has executed a number of product line extensions, facility enhancements, and acquisitions over the past four years. Today, BrightPet operates three complementary businesses: outsourced kibble manufacturing, outsourced treat manufacturing, and a portfolio of company-owned premium pet food and treat brands, including Blackwood®, Adirondack®, and By Nature®. The company only uses top-of-the-line ingredients in its signature slow-cooked pet food and specialty treats and is one of just a few USDA-certified organic pet food producers in the United States. BrightPet also holds several other quality and safety certifications, including many that allow it to export its high-end products to international markets.

Graham Partners is a private investment firm focused on investing in technology-driven companies that are spurring innovation in advanced manufacturing, resulting in product substitutions, raw materials conversions, and disruptions to traditional end markets. Based in suburban Philadelphia, the firm has access to extensive operating resources and industrial expertise and is a member of The Graham Group, an alliance of independent operating businesses, investment firms, and philanthropic entities that share in the common legacy of entrepreneur Donald Graham. Since its founding in 1988, Graham Partners has closed more than 130 acquisitions, joint ventures, financings, and divestitures. The committed capital raised since inception through the firm's funds, together with Graham-led co-investments, totals approximately $3.3 billion, which differs from regulatory assets under management.

A&M Capital Partners is Alvarez & Marsal Capital’s flagship investment strategy focused on middle-market control transactions in North America, with total assets under management of $1.8 billion. AMCP Fund I held its final close in 2014 with $600 million in capital commitments. Between 2012 and 2020, AMCP Fund I invested in 32 companies to date across eight platforms. Following the success of AMCP Fund I, in 2019, AMCP Fund II closed with $1.2 billion in commitments. AMCP Fund II has invested in 16 companies to date across five platforms. A&M Capital Partners has a strong and referenceable track record of serving as a trusted partner to founders, corporates, and management teams, providing the capital and strategic assistance required to take businesses to the next level of success. It invests in businesses across a wide range of sectors, including business services; industrials; manufacturing; food and beverage; healthcare; consumer, food, and retail; government services; financial services; and energy services. More broadly, Alvarez & Marsal Capital is a multistrategy private equity investment firm with more than $3 billion in total assets under management across four funds and three investment strategies, which maintains a strategic association with Alvarez & Marsal, one of the largest operationally focused advisory firms in the world.

This deal represents another successful transaction for Houlihan Lokey in the food and beverage industry.