PAI Partners to acquire American pet food co-manufacturer Alphia

PAI Partners, a leading private equity firm, has announced its agreement to acquire Alphia Inc., one of North America’s largest pet food co-manufacturers. While the terms of the transaction were not disclosed, this deal marks a significant milestone in the pet food industry. Alphia, headquartered in Denver, is a national leader in pet food manufacturing, producing more than one billion pounds of dry pet food and treats annually. The company also provides an array of services including milling, research and development (R&D), innovation, warehousing, transportation, and distribution.

Alphia was formed through the 2020 merger of American Nutrition Inc. and C.J. Foods Inc., after being acquired by J.H. Whitney Capital Partners in 2014. This merger made Alphia a leading custom manufacturer of super-premium pet food in the U.S., offering complete “farm-to-bowl” solutions for its partners. Alphia owns six manufacturing facilities nationwide and is the parent company of LANI, an ingredient milling solutions provider, and Veracity, a logistics and warehousing company.

American pet food co-manufacturer Alphia to be acquired by PAI Partners. Photo courtesy of Business Wire.

David McLain, CEO and President of Alphia, praised J.H. Whitney’s years of support and expressed optimism about the future with PAI Partners. “PAI is committed to our ongoing vision for growth and shares common values of innovation, food safety, and industry leadership,” McLain said. This transaction accentuates PAI Partners’ expertise in the Food & Consumer sector, specifically in pet food and contract manufacturing. The private equity firm has previously invested in companies like Royal Canin, Provimi, Diana Pet Food, and Refresco.

The acquisition aims to accelerate Alphia’s growth in North America, both organically and through future acquisitions. Alphia’s extensive experience, focus on food safety, and dedication to delivering high-quality products make it a trusted partner for many leading pet food brands and retailers.

Completion of the transaction is subject to customary closing conditions and regulatory approvals. Goldman Sachs & Co. served as the financial adviser to Alphia, while legal counsel for the deal was provided by Gibson, Dunn & Crutcher LLP for J.H. Whitney and Alphia, and Weil, Gotshal & Manges LLP for PAI Partners.