Bryan Jaffe, managing director of Cascadia Capital, shares his thoughts on the active M&A market for pet-related deals. Cascadia is a Seattle-based investment bank that helps companies seeking to transact in the capital markets. The bank has advised on numerous pet- related businesses, including Petflow (2017), Manna Pro Products (2015), Nutri-Vet (2015), I & Love & You (2014), PetSmart (2014, in the acquisition of Pet360), Only Natural Pet (2014), Zukes (2013) and Canine Hardware (2012). In one sign of the growing importance of pet deals, Mergers & Acquisitions gave the 2016 M&A Mid-Market Award for Dealmaker of the Year to Gregory Sandfort, the CEO of Tractor Supply Co. (Nasdaq: TSCO), which bought Petsense LLC to expand rapidly in the lucrative pet retail market.
What does all the recent deal activity say about the pet industry?