June 23, 2023
(press release)
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Press release: Topspin Consumer Partners Topspin Consumer Partners, an operationally driven private equity firm focused on the consumer sector, today announced that the firm has acquired the consumer products division of Three Dog Bakery (TDB), the creator of humanized dog treats sold at traditional and online retailers. TDB’s existing management team will continue to lead the Company in their current roles. Financial terms of the transaction were not disclosed. Based in Kansas City, Missouri, TDB is a leading manufacturer and marketer of branded, humanized dog treats whose product portfolio disrupted the indulgent dog treat category with real ingredients, fresh-baked aromas and texture and innovative products, many of which are inspired by human snacks and cookies. TDB has achieved strong growth through its longstanding relationships with key retail partners and innovative products including Lick’n Crunch, a sandwich crème cookie, Assort“Mutt” Trio, a soft baked cookie, and Quiche Bites, a savory breakfast treat. TDB bakes many of its products in-house, enabling quick-to-market newness of soft-baked, aromatic treats as well as small batch runs of specialty items. “Topspin has extensive experience building consumer brands and a strong network within the pet sector, making them the perfect partner as we enter our next phase of growth,” said Jerry Dear, president of Three Dog Bakery. “Pet parents are becoming increasingly aware of the importance of providing their best furry friends with more wholesome options, and we are confident that our unique product offering, which directly taps into pet humanization trends, is changing the way people think of dog treats. As the pet food industry continues to evolve, we will be well-positioned with Topspin’s support to expand our brand and increase our market share in the U.S.” “We see enormous opportunity in the pet consumables sector, and are excited to partner with Three Dog Bakery, whose innovative products have generated an avid consumer following,” said Leigh Randall, managing partner at Topspin. “TDB’s management team has successfully scaled the Company through its product launches, established customer relationships, and thoughtful distribution expansion, and we look forward to partnering with the team to enter new categories and provide even more pet owners with unique, high-quality treats for their dogs.” Lowenstein Sandler LLP served as legal advisor to Topspin.
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