Houlihan Lokey Advises Zesty Paws

Houlihan Lokey is pleased to announce that Zesty Paws, a portfolio company of Maxim Partners, has been acquired by Health & Happiness (H&H) Group International Holdings Ltd. for $610 million. The transaction closed on October 4, 2021.

Headquartered in Orlando, Florida, Zesty Paws was founded in 2015 with the mission of enabling and inspiring a zest for life in pets and pet parents. Driven by its innovative spirit, Zesty Paws launched a line of pet supplements to support many common conditions in dogs and cats, through highly efficacious formulations leveraging branded ingredients. With unprecedented numbers of five-star ratings and reviews (over 200,000 as of May 2021), Zesty Paws is currently the #1 best-selling multi-condition pet supplement brand in the U.S. growing at a CAGR of 62%+ over the past 2 years. The brand has succeeded in e-commerce channels like Amazon.com and Chewy.com, and successfully expanded at retail through pet specialty (PetSmart) and mass retail (Target).

Founded in 2009, Maxim Partners is a private equity firm based in Hinsdale, Illinois. The firm seeks to make investments in the education and wellness sectors.

H&H Group is a global health and nutrition company, dynamic, courageous, and ambitious in its desire to inspire wellness, while contributing positively to the needs of society and the planet. The Group has three business segments – Baby, Adult and Pet Nutrition and Care – supporting whole-family health and happiness, with premium brands providing nutrition and wellness solutions backed by science.

Houlihan Lokey served as the exclusive financial advisor to Zesty Paws and assisted in structuring and negotiating the transaction on its behalf.