Dec 03 2021
Vimian Group acquires pet speciality nutrition company in the United States
Vimian Group today announces the acquisition of GlobalOne Pet Products LLC, a company that offers super premium pet treats and chews across the United States (US) and Canada (CN). GlobalOne Pet Products has annual revenues of around USD 20 million and an EBITDA of around USD 5 million. The purchase price amounts to USD 50 million and an additional, possible amount of maximum USD 30 million vested over three years from 2022 and based on financial performance.
Vimian Group’s Specialty Pharma segment Nextmune has today signed an agreement to acquire GlobalOne Pet Products in the US. GlobalOne Pet Products LLC, through its subsidiary GlobalOne Pet, Inc., designs, markets and sells super premium pet treats and chews designed to drive wellbeing, dental health and oral hygiene among dogs. The products are primarily sold under its own brands but also as private labels to major retailers, pet stores and online throughout the US and CN. The company is focused on super premium pet treats and chews that are free from rawhide and marketed under the brands “Canine naturals”, “Rewardables” and “Luke & Mike’s”. GlobalOne Pet Products launched its treats and chews product range in 2018. The company is based in Texas, US, and its subsidiary GlobalOne Pet is based in California, US. The company enjoys a strong financial position having grown to USD 20 million in sales with solid profitability since starting to distribute its super premium treats and chews around three years ago.
“The acquisition of GlobalOne Pet Products provides a unique opportunity to enter a fast-growing niche of the pet treats market and gain access to a nationwide distribution network in the US and Canada. GlobalOne Pet Products is well positioned in the market, levering the strong rawhide free and all naturals trend, and its products are a great complement to our existing specialty nutrition offering. The GlobalOne Pet Products team also has strong retailer relationships that we can leverage for our entire non-prescription portfolio”, says Magnus Kjellberg, CEO of Vimian Group’s Specialty Pharma segment Nextmune.
The company’s founding partner Michael Farmer will continue to lead GlobalOne Pet Products as part of Nextmune and Vimian Group.
“We are excited to join forces with Nextmune and take advantage of the team’s scientific know-how and European platform. Our niche represents an important and growing area where we together with the Nextmune team can develop our product range and make a significant positive impact for companion animals across the world”, says Michael Farmer, co-founder and CEO of GlobalOne Pet Products.
The acquisition will have a positive impact on Vimian Group AB's earnings per share and closing is subject to customary closing conditions. GlobalOne Pet Products is expected to be consolidated into Vimian’s Specialty Pharma segment on or around 13 December 2021. The acquisition is financed with available funds.