Deloitte Corporate Finance LLC (“DCF”) acted as exclusive financial advisor to Salix Animal Health, LLC and its related manufacturing entities on their joint sale to Spectrum Brands Holdings, Inc.

Founded in 1988 and headquartered in Deerfield Beach, FL, Salix is the world’s leading and largest vertically integrated producer and distributor of premium, natural rawhide dog chews, treats, and snacks with annual revenues of approximately $100 million.  Salix offers a comprehensive line of chews made from beef hides, pork, chicken, beef, and other various proteins. Salix branded and private label products are sold to mass merchandisers, grocery stores, pet specialty stores and warehouse clubs. The Company’s two flagship brands are Healthy Hide®—which is marketed across the Good ‘n’ Fun, Good ‘n’ Fit, and Good ‘n’ Tasty family of brands — and Digest eeze™.

Conveying simultaneously with the sale of Salix are multiple Latin American manufacturing entities and a Netherlands-based distributor of Salix products.  The Company’s related Latin American factories are located in Mexico, Ecuador, Colombia, and Brazil.  Salix’s flexible supply chain gives Spectrum’s pet business increased optionality for a low-cost global rawhide production network.

“Deloitte Corporate Finance’s deep transaction and industry experience added value throughout the sale process.  DCF’s consumer sector knowledge was vital to our selection of Spectrum as our partner. Salix customers will benefit from Spectrum’s world-class innovation, global sourcing capabilities, and marketing expertise.  With synergistic manufacturing operations and a shared devotion to quality and safety, we see a bright future for the combined business,” said Marc Kreamer, founder of Salix Animal Health, LLC.

“The Salix management team has worked tirelessly to build a company devoted to providing pet owners with safe, high-quality chews and treats for their canine companions. DCF’s cross-border and consumer sector experience enabled us to identify an acquiror with a shared vision of growth and a focus on quality and safety. This deal marks DCF’s second in the pet space in the past 60 days, further emphasizing the consumer trend towards increased spending on companion pets,” said Lorin DeMordaunt, managing director and Consumer and Retail group lead, Deloitte Corporate Finance LLC.
 
For over 25 years, Salix has offered a full line of innovative products that combine choice ingredients with value-added functionality that enable pet owners to care for their canines.

Spectrum Brands Holdings, a member of the Russell 2000 Index, is a global and diversified consumer products company and a leading supplier of consumer batteries, residential locksets, residential builders’ hardware, faucets, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn and garden and home pest control products, and personal insect repellents.

Deloitte Corporate Finance LLC provides strategic advisory services and M&A advice that help corporate, entrepreneurial and private equity clients create and act upon opportunities for liquidity, growth and long-term advantage.