Pet food platform Golden Pet Brands taps banks for IPO, sources say

By Abigail Summerville

NEW YORK, Sept 2 (Reuters) - Golden Pet Brands, which owns Dr. Marty Pets, Badlands Ranch, and Ultimate Pet Nutrition, has picked banks for an initial public offering to be listed in New York that could come as soon as this year, according to ​people familiar with the matter. 

The pet food company is working ⁠with investment banks including Morgan Stanley and Barclays for the ​listing, which could value it at over $1 billion, the people said, speaking on the condition of anonymity to discuss private information. 

Morgan Stanley and Barclays declined to comment. Golden Pet Brands did not immediately respond to a comment request.

A few high-profile consumer and retail companies went public this summer, including restaurant chain Jersey Mike’s and fashion brand Reformation, with several others in the pipeline, including Canadian pet food brand Open Farm and beauty conglomerate Wella. 

El Segundo, California-based Golden Pet Brands was launched in 2017 by Golden Hippo, a brand incubator and marketing firm. It was later spun out into an independent company that uses an Employee Stock Ownership Plan (ESOP) model.

It operates two manufacturing facilities in the U.S. Its three brands make food, treats and supplements for dogs and cats. 

Dr. Marty is backed by Dr. Marty Goldstein, a veterinarian who has treated pets owned by celebrities, including Oprah Winfrey. Actress Katherine Heigl founded Badlands Ranch, while actor Rob Lowe is a spokesperson for Ultimate Pet.   

In April, the company appointed Apu Mody, who held roles at Mars, Procter & Gamble and Del Monte Foods, as chief executive officer, and John Meloun, former chief financial officer of Xponential Fitness, as CFO.