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10/27/2021

Cosmic Pet and Petmate to combine following acquisition

Platinum Equity announced that it has acquired Cosmic Pet and will combine it with Petmate, creating an expansive portfolio of private label pet products.
Zachary Russell
Associate Editor
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Investment firm Platinum Equity has added a company with a strong own brand collection to its portfolio. 

The firm has acquired Cosmic Pet, a leading designer, marketer and distributor of pet products, including toys, beds, collars and leashes, treats and more. Cosmic Pet will be combined with Petmate, a Platinum Equity company that produces kennels, pet toys, food storage, chews and more. Petmate’s private brands include Chuckit!, Pet Qwerks, Healthy Chews and more.

Cosmic Pet’s portfolio of own brands include Hyper Pet, Pet Fusion, Our Pets, Pet Zone, Wild Eats and Pet Craft Supply Co, and a large and differentiated in-house international sourcing operation to serve the branded and private label needs of customers. The acquisition will create one large pet supply company under the Platinum Equity umbrella.

“The U.S. pet industry continues to demonstrate steady growth fueled by increased consumer demand for products that improve the quality of life for pets,” said Platinum Equity managing director Adam Cooper. “As the market grows, large national retailers are increasingly looking for partners with diverse and comprehensive product portfolios. This combination will create a differentiated platform of scale with powerful brand equity, a unique and innovative product mix, diversified end channels, and expertise in both branded and private label offerings."

Petmate CEO Alice Tillett will lead the combined company.

"Petmate and Cosmic Pet are an ideal fit, with complementary strengths and a shared commitment to serving the needs of passionate pet owners throughout the country," said Tillett. "This is an exciting opportunity to bring together two best-in-class companies facilitating a transformational step in the growth and evolution of our business."