SELECTED INVESTMENT · CONSUMER

Natural Balance

An established specialty nutrition brand entering a new ownership chapter.

Business overview

Natural Balance is a premium pet food business. The brand combines an established market presence with products serving the nutritional needs of companion animals.

Family investment

The family participated in the 2021 acquisition of Natural Balance, adding a specialty consumer business to its investment history.

Transaction context

The business was acquired from The J.M. Smucker Company by Nexus Capital Management. The announced transaction included branded pet food products, specified trademarks and licensing agreements, and select employees. Natural Balance generated approximately $220 million in net sales in Smucker’s fiscal year ended April 2020.

Case perspective

The acquisition provides a case study in the transition of an established consumer brand from a diversified corporate owner to an investment-backed ownership structure, with brand positioning and operational execution as important considerations.