Sumitomo Corp. of America (New York) purchased JWC Hartz Holdings Inc., the holding company of The Hartz Mountain Corp. (Secaucus, N.J.), from J.W. Childs Equity Partners II L.P. in June for $388 million. Sumitomo Corp. of America is a division of Tokyo-based Sumitomo Corp., an integrated global trading company.

Hartz Mountain will continue to function as an independent business under the current leadership team headed by Robert Devine, president and chief executive officer.

"The change in ownership is a very positive development for our business," Devine said. "Hartz will continue the effort to reposition the brand and drive growth with new products and technologies.

"We also envision a number of valuable synergies emerging from this new relationship, not the least of which is a chance for us to expand our reach into markets and channels with a high degree of sophistication and a history of pet ownership," he continued. "The new Hartz Mountain will be stronger and more global."

Hartz Mountain, founded in 1926, assumed its name after importing canaries from the Hartz Mountains in Germany. The company offers more than 1,500 products through more than 40,000 retail outlets in the United States and Canada.

"Hartz Mountain is a brand name with a very strong history and great credibility," said Atsushi Nishijo, president and CEO of Sumitomo Corp. of America. "This is a significant acquisition for Sumitomo Corp. of America and for Sumitomo Corp. Japan."

Sumitomo Corp. of America is an investor in several venture capital funds and participates as a strategic partner with companies in the biotech and life sciences communities.