A group from OC&C Technique Consultants has supported non-public fairness agency Quadrant on its sale of Australian pet meals firm Prime100 to world shopper items large Colgate-Palmolive.
Established in 2014, Prime100 manufactures a premium vary of contemporary ‘single-protein’ meals merchandise catering to canines and cats with delicate digestion. Quadrant picked up a majority stake within the firm in 2021, which has since tripled in scale and expanded to the profitable US market.
Based on media experiences, Prime100’s sale to Colgate-Palmolive is estimated to have valued the corporate at near $500 million, up from round $150 million lower than 4 years in the past, with OC&C Technique Consultants offering Quadrant with strategic recommendation and business vendor due diligence on the sizeable deal.
“This can be a actual home-grown success story,” Quadrant managing associate and Prime100 chairman Marcus Darville advised the Australian Monetary Evaluate, including that the corporate was well-positioned to proceed its progress. “Colgate is without doubt one of the high pet care corporations on this planet, so it’s important that an organization of that dimension is on this Australian enterprise.”
Prime100 will now be a part of Colgate’s Hill’s Pet Vitamin division. Based mostly in Melbourne, the corporate was born of the assumption that food-based allergens contribute to a spread of canine points together with itching and gasoline, and presents merchandise corresponding to slow-cooked salmon & tapioca rolls and air-dried duck with candy potato, the latter which retails for $47.99 for a 600 gram bundle at Petbarn.
Advisory group
Main the native due diligence group have been Sydney-based OC&C Technique Consultants companions Mark Blackwell and Maurice Violani together with affiliate associate Julie Preston, whereas UK associate Tom Gladstone assisted on the world stage from the technique consultancy’s head workplace in London. Houlihan Lokey, Gilbert + Tobin, and PwC additionally supported Quadrant on the transaction.
“We’re happy to congratulate Quadrant on the profitable sale of Prime100, marking one other milestone for Quadrant and reinforcing its pedigree within the sector after having beforehand scaled and bought Metropolis Farmers and VIP Pet Meals,” OC&C Technique Consultants acknowledged. “With such energy and innovation, we sit up for seeing what’s subsequent for each Prime100 and Colgate-Palmolive.”
With intensive expertise within the shopper items sector working with each main world firms and native manufacturers, OC&C Technique Consultants famous that it has now suggested on greater than 500 profitable non-public fairness transactions in simply the previous 5 years, with the sale of music competition promoter Superstruct Leisure to KKR among the many consultancy’s latest engagements.
