Press release: Phillips
Phillips Pet Food & Supplies (Phillips) and Animal Supply Company (ASC), announced that they have reached a definitive agreement under which the two companies will combine to create a national leader in pet product distribution and services. As part of the transaction, the new ownership of the combined company is investing new capital and expects to secure expanded credit facilities.
“Phillips and ASC have made clear progress toward building industry-leading distribution platforms and enabling our retailers and brands to delight their consumers,” said Todd Shelton, CEO of Phillips. “We are confident that a combination with ASC will enhance support for our many pet specialty retailers.”
“We are excited about the partnership with Phillips,” said Don McIntyre, CEO of ASC. “Our complementary distribution platforms will have greater reach and enable the combined company to provide enhanced and more efficient service – driving growth and profitability for our customers’ businesses. The ASC and Phillips teams will work together to facilitate a smooth transition for retailers and brands, as they position the combined company for long-term success.”
The new company will be better positioned to help retailers and brands address changing consumer needs.
The transaction is expected to close early in the second quarter of 2020.o