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Beverage Company, Foodservice and Specialty Distribution equity investments
 
Eagle Pack Pet Foods, Inc. is a leading producer of super premium, natural/holistic dog and cat food sold primarily in the independent, specialty pet store channel.
 
 
SPC Investment

Initial Investment: September 2004

Exit: October 2007, sold Eagle Pack to an affiliate of Berwind Corporation

SPC Investment Thesis
  • Natural/holistic pet food segment is growing faster than the overall category due to overall health and wellness trends and the increased humanization of pets
  • Fragmented category presents opportunity to build the #1 independent, natural/holistic pet food brand in North America
  • Owned manufacturing provides significant product quality advantages and results in higher margins
  • Superior product and experienced management team well-positioned to capitalize on growth of the category
  • Opportunities to improve efficiency with transition from a family-run business

Key Sources of Value Creation
  • Growth Strategies: SPC increased the Company’s focus on sales and marketing, resulting in an expansion of the sales force and distributor base and improved packaging design
  • Management: Elevated next generation of management to leadership role, implemented incentive compensation plan and augmented team through addition of new CFO
  • Operations: Outsourced freight logistics and completed a $1.3 million warehouse expansion project to facilitate growth


Case Studies Overview
Eagle Pack Pet Foods
Fleischmann's Vinegar
Good Source Solutions, Inc. (Fund III)
Liberty Brand Products
Oregon Chai
Reef Holdings
S.T. Specialty Foods, Inc.
Santa Cruz Nutritionals (Fund II)
Totes Isotoner