Class VI Partners is pleased to announce the acquisition of The Garmon Corporation (“Garmon” or the “Company”) by Swedencare AB (“Swedencare”). Read the full details of the transaction here.
“We have been fortunate to have been able to work with Scott and his team for almost eight years. A true entrepreneur, Scott reinvested over and over in the Company, building an enterprise with world-class innovation, manufacturing, management team, and delivery capabilities. We could not be happier for Scott and the team and know Swedencare is the perfect place for the Garmon team to continue their rapid growth,” said Chris Younger, Managing Director at Class VI.
“It’s difficult to find the words to express how very grateful I am to the entire Class VI Team. When we started this journey seven years ago to grow and then ultimately sell my business of 42 years, the Class VI team provided excellent advice and guidance that took us to the next level and skyrocketed the value of my company. Class VI exceeded all my expectations and it’s with great admiration that I sincerely thank them for taking us through a process that I never could have done without their team,” said Scott Garmon, President and Founder of Garmon.
Based in Temecula, California, Garmon has been manufacturing best-in-class pet supplements for dogs, cats and horses since 1994. The Company sells through its two primary brands (NaturVet and VetClassics), in addition to private label manufacturing for pet supplement brands across the world. NaturVet products are available through thousands of pet stores and online retailers.
Swedencare manufactures and sells premium pet healthcare products to over 50 markets worldwide. The company has a wide range of brands and products, which includes Vetio, Rx Vitamins for Pets, Animal Pharmaceuticals, Nutravet, NutriScience, PetMD, Stratford, VetWELL, as well as ProDen PlaqueOff for oral health to dogs and cats.
“I am excited about our transaction with Swedencare as it will enhance our ability to introduce new categories from the Swedencare Group offerings and continue to grow our industry leading products like ArthriSoothe, Quiet Moments, GrassSaver, and No Scoot. NaturVet will also be completing our third soft chew line, increasing production capacity by 100%, thus allowing us to lead the industry with our 98% fill rate,” said Garmon.
“NaturVet is a dream partner and the acquisition means that we take a big leap towards our goal to become a leading global pet healthcare group within nutraceutical and dermatology premium products to pets and companion horses. Through the acquisition, we get a broad, well-known and appreciated product portfolio, a high-quality product facility that can be considered a leader in soft chews and fantastic customer coverage in the US as we now add to our approximately 15,000 veterinary clinics, the same number of pet shops, while increasing our online share significantly. With Scott Garmon and his very experienced management team, together with our entrepreneurial management teams in our subsidiaries in the US and Europe, we have a great setup for a continued exciting development. We have identified a number of very interesting synergy projects that will further increase our growth rate,” said Håkan Lagerberg, CEO of Swedencare.
The Company will continue to operate under the NaturVet and VetClassics brands, providing leading supplements to pets around the world through brick & mortar retailers, online platforms, veterinary clinics, and private label lines. Representing Swedencare’s eighth acquisition since 2020, the Garmon acquisition will allow Swedencare to continue its growth in the US animal healthcare market.
The transaction closed on February 1, 2022. Sherman & Howard, LLC served as legal counsel to Garmon, and Advokatfirman Lindahl KB and Wiggin and Dana, LLP both served as legal counsel to Swedencare.
For more information about the transaction, please contact Chris Younger at 303.243.5601 or [email protected], Danielle Sanders at 303.243.5603 or [email protected], or Bobby Motch at 303.243.5625 or [email protected].
Class VI provides middle-market investment banking services, including mergers and acquisitions advisory, corporate advisory, business valuation, and private capital raising services through its affiliate, Class VI Securities, LLC and Member FINRA. Class VI is also affiliated with and offers wealth management services through Class VI Family Office, LLC, a Registered Investment Advisor with the Securities & Exchange Commission.