December 20, 2021
New Platform Provides Flavors for Pet Medicines and Supplements
MELBOURNE, Fla., Dec. 20, 2021 /PRNewswire/ — Pet Flavors, LLC (“Pet Flavors” or the “Company”), a market-leading producer of pharmaceutical grade flavor bases and palatants used in chewable pharmaceuticals for pets, and Bessemer Investors LLC (“Bessemer”), a New York-based investment firm, announced today that Bessemer has made a significant investment in Pet Flavors. Bessemer is partnering with the Company’s founder, Mark Pieloch, who will remain with the Company as its President. Financial terms of the transaction were not disclosed.
Bessemer intends to establish Pet Flavors as its platform investment in the companion animal health industry.
Mr. Pieloch said, “We are very pleased to be partnering with Bessemer as we move toward the next stage in our growth. The Bessemer team is aligned with our values, and we believe their long-term and flexible approach will help us expand into additional products while continuing to strengthen our alliances with pharmaceutical and nutraceutical companies all over the world. We are proud of our role in keeping pets healthy and their owners happy.”
Founded in 1990, Melbourne, FL-based Pet Flavors provides flavor bases used in pharmaceutical and nutraceutical products consumed by pets. The flavor bases contain high-quality U.S.-sourced ingredients and are made exclusively at the Company’s USDA-licensed Melbourne facility. The flavor bases are tested by independent U.S.-based FDA/USDA approved laboratories to ensure that all physical, chemical and microbiological specifications are met and stability testing is consistently updated. Pet Flavors’ palatants are utilized by top animal health drug manufacturers in their FDA-approved pet medications due to the Company’s superior customer service, quality of production, and product palatability. In addition to its market-leading PC-0125 artificial beef product, the Company offers a variety of other flavors, including a newly developed hypoallergenic and vegan base flavor.
Andrew Mendelsohn, Principal at Bessemer, said, “Pet parents want the experience of giving their pets medication to be as seamless as possible, which makes flavoring a key component of that relationship. Pet Flavors’ commitment to quality and execution as well as its strong relationships with top animal health and supplement companies have helped it establish a reputation as the leading manufacturer of flavor bases. We are excited to team with Mark and the Company to build on their 30-year history of market leadership, innovation and partnership with the leading global animal health companies.”
Capitalmind served as M&A advisor to Pet Flavors, while Greenberg Traurig, LLP served as legal counsel. Lincoln International served as advisor to Bessemer Investors, while Akin Gump Strauss Hauer & Feld LLP served as legal counsel. BMO is leading the debt financing for the transaction.
About Pet Flavors
Based in Melbourne, Florida, Pet Flavors produces pharmaceutical grade flavor bases used in pharmaceuticals and nutritional supplement products consumed by pets. Using only high-quality U.S.-sourced ingredients, the company’s flavor bases are preservative free, grain free, and contain no artificial coloring. The flavors are made exclusively at Pet Flavors’ USDA-inspected and approved Melbourne facility and are tested by an independent U.S.-based FDA/USDA approved laboratory to guarantee that all physical, chemical and microbiological specifications are met. Pet Flavors’ flavor bases are sold in the U.S., Canada, Europe, India, Brazil, and Mexico.
About Bessemer Investors
Bessemer Investors is a New York-based investment firm focused on partnering with middle market businesses to support growth and enhance value creation. Bessemer differentiates itself by combining a long-term, flexible capital base with a team of experienced private equity professionals. This approach offers unique solutions to Bessemer’s partners and the flexibility to maximize long-term value. For further information, please visit https://www.bessemerinvestors.com.