Golden Pet Brands Plans Initial Public Offering
By Abigail Summerville
NEW YORK, Sept 2 (Reuters) – Golden Pet Brands, which owns Dr. Marty Pets, Badlands Ranch, and Ultimate Pet Nutrition, is moving forward with plans for an initial public offering (IPO) in New York that could happen as early as this year, according to sources familiar with the matter.
The pet food company is coordinating with investment banks including Morgan Stanley and Barclays for the listing, which may value the firm at over $1 billion, the sources, who wished to remain anonymous, indicated. Morgan Stanley and Barclays have declined to comment, and Golden Pet Brands has not yet responded to requests for comments.
This summer, several notable consumer and retail companies, such as Jersey Mike’s and Reformation, successfully went public, with more companies in the pipeline, including Canadian pet food brand Open Farm and beauty conglomerate Wella.
Founded in 2017 in El Segundo, California, by Golden Hippo—a brand incubator and marketing firm—Golden Pet Brands transitioned into an independent company utilizing an Employee Stock Ownership Plan (ESOP) model. The company operates two manufacturing facilities in the U.S. and produces food, treats, and supplements for dogs and cats.
Dr. Marty Pets is endorsed by veterinarian Dr. Marty Goldstein, known for treating celebrity pets, including those owned by Oprah Winfrey. Badlands Ranch was founded by actress Katherine Heigl, while actor Rob Lowe serves as a spokesperson for Ultimate Pet.
In April, the company appointed Apu Mody, who has experience with Mars, Procter & Gamble, and Del Monte Foods, as CEO, and John Meloun, former CFO of Xponential Fitness, as CFO.
(Reporting by Abigail Summerville in New York; Editing by Echo Wang and David Gaffen)
