TA Associates, a leading global growth private equity firm headquartered in the U.S., today announced that it has completed an investment in leading pet food marketer and manufacturer, Mid America Pet Food, LLC, proud manufacturer of VICTOR® Super Premium Pet Food (“VICTOR”). Joining TA as an investor is Rx3 Growth Partners, a growth equity fund founded by Green Bay Packers quarterback Aaron Rodgers. TA and Rx3 acquired their stakes in the company from Trinity Hunt Partners, a growth-oriented middle-market private equity firm that invested in Mid America Pet Food in 2014. Financial terms of the transaction were not disclosed.
Introduced in 2007, VICTOR offers super premium pet food in a variety of recipes to appeal to both dogs and cats, while helping to meet special dietary needs through grain inclusive and grain-free formulas, a variety of protein offerings and more. VICTOR is sold primarily in farm & feed and independent pet stores across the country, as well as through select online retailers. With a commitment to offering high-quality nutrition at a common-sense value, the company manufactures all kibble in-house at its Mt. Pleasant, Texas facility, sourcing many ingredients from farms and suppliers that are within a day’s drive of its East Texas plant. Ingredients are tested to ensure that they meet the company’s high-quality standards, with the goal of ensuring the health and safety of the animals VICTOR is entrusted to feed.
“VICTOR is a brand built on a foundation of quality and performance while delivering a common-sense value. The farm & feed customer was the first to recognize the superior quality of the product, and the brand continues to grow quickly in this important channel,” said Bill Christ, a Managing Director at TA Associates who has joined the Mid America Pet Food Board of Directors. “We believe that the Mid America Pet Food team has done an outstanding job creating a unique brand that offers a tremendous value to the end customer, and we look forward to working with them to drive continued growth.”
“TA Associates is an exciting partner for Mid America Pet Food at this stage of our growth,” said Greg Cyr, CEO and President of Mid America Pet Food. “We’ve never wavered from our commitment to delivering high-quality pet food at a common-sense value, which our customers have come to know and appreciate, helping to fuel our impressive growth. We look forward to continuing to deliver the premium nutrition that our customers expect, and we believe that TA will be key to supporting us in this effort as we scale the business. We would also like to thank the team at Trinity Hunt for their guidance and support over the last six years of our growth.”
“We are excited to back current management and the VICTOR brand, and believe that the pet sector, and premium pet food in particular, is a great place to invest given many favorable industry tailwinds,” said Jessica Gilligan, a Senior Vice President at TA Associates who has also joined the Mid America Pet Food Board of Directors. “More families are welcoming pets into their homes and spending per pet continues to increase as nearly all age groups, especially Boomers and Millennials, continue to view their pets as family members.”
Katten Muchin Rosenman LLP provided legal counsel and Houlihan Lokey served as financial advisor to Mid America Pet Food. Goodwin Procter LLP provided legal counsel and Harris Williams served as financial advisor to TA Associates.
About Mid America Pet Food, LLC
Founded in 2007, Mid America Pet Food produces VICTOR® Super Premium Pet Food (VICTOR) and Eagle Mountain Pet Food (Eagle Mountain). Based in East Texas, both brands offer reliable pet nutrition at a common-sense value. VICTOR’s super premium dog food formulas have been nationally recognized and are a trusted nutrition source for pet owners across the country, including outdoor enthusiasts, hunters, trainers and breeders. More information about Mid America Pet Food, VICTOR and Eagle Mountain is available at www.mapf.com, www.victorpetfood.com and www.eaglemountainpetfood.com.
About TA Associates
TA Associates is a leading global growth private equity firm headquartered in the U.S. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.
About Rx3 Growth Partners
Rx3 Growth Partners is a growth equity fund focused on the consumer sector. Rx3 was co-founded in 2018 by Green Bay Packers quarterback Aaron Rodgers and counts a number of celebrities and professional athletes as investors. The fund seeks to align itself with high-quality brands that resonate with this network to help drive consumer awareness and long-term growth. More information about Rx3 Growth Partners can be found at www.rx3growthpartners.com.
About Trinity Hunt Partners
Trinity Hunt Partners is a growth-oriented middle market private equity firm focused on partnering with business owners to build world-class business services, healthcare, and consumer companies. Since its inception, Trinity Hunt has raised funds with aggregate commitments of approximately $775 million. Trinity Hunt has earned a reputation for providing the strategic, operational and financial expertise to take entrepreneurial services companies to the next level. For more information, visit www.trinityhunt.com.