Freshpet, Inc.

Freshpet, Inc.

Freshpet, Inc.

Overview
Date Founded

2004

Headquarters

400 PLAZA DRIVE, 1ST FLOOR, SECAUCUS, NJ, 07094

Type of Company

Public

Employees (Worldwide)

462

Industries

Livestock & Animals
Wholesale: Consumer Non-Durables/Sundries
Food

Company Description

Freshpet, Inc. engages in the manufacturing, marketing, and distribution of pet food and pet treats for dogs and cats. Its products are sold throughout the United States and in Canada under the Freshpet Select, Vital and Nature's Fresh brands. Its products include deli fresh grain free chicken recipe for dogs; dog joy turkey and apple bites treats for dogs; nature's fresh grain free chicken recipe for cats; and vital grain free chicken and ocean whitefish recipe for cats. The company was founded by Scott Morris and Cathal Walsh in November 2004 and is headquartered in Secaucus, NJ.

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Executives & Employees

Co-Founder, President & Chief Operating Officer

Chief Executive Officer & Director

Chief Financial Officer & Principal Accounting Officer

General Manager Midwest Manufacturing Expansion

Secretary, Senior Vice President & Controller

Executive Vice President, Manufacturing & Supply Chain

Executive Vice President-Finance

Senior Vice President-Sales

Senior Vice President-Manufacturing Operations

Senior Vice President-Cooler Operations

Board of Directors

Professional at Freshpet, Inc.

Senior Vice President & General Manager-Merchandising at Walmart, Inc.

Chief Executive Officer at Dentsu Aegis Network Americas

Former Chief Executive Officer at Wholesome Sweeteners, Inc.

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Freshpet, Inc.
Owners & Shareholders
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Our firm was founded to help small investors build significant capital over time. Since we believe in owning as many promising stocks as possible, we generally buy on margin.* Borrowing to invest can force liquidations if the market collapses, so we try to balance this exposure by selling short. This ability to seek investments both up and downstream is rarely available to smaller investors. We, however, view it as an effective tool that doubles our clients' dollars at work (it also doubles our commissions), while moderately reducing their exposure to abrupt swings in the market. Our approach is not for the short-term investor. Clients must be able and willing to accept risks. Accounts will experience sharp fluctuations month to month, year to year. It takes a strong stomach to invest with us. Clients entrust decision making for their accounts to us: we buy and sell without asking our clients to authorize in advance each transaction. We are paid commissions for our work

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Wasatch selects investments for clients based solely on investment considerations, including whether the investments are suitable for the client and consistent with the client's investment objectives and guidelines. The firm generally uses a process of \"bottom-up\" fundamental analysis to look for individual companies that they believe are stable and have the potential to grow steadily for long periods of time. Their analysis may include studying a company's financial statements, building proprietary financial models, visiting company facilities, and meeting with executive management, suppliers and customers.

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CIP aims to generate attractive returns with less risk than the overall market by offering institutional separate accounts and pooled investment vehicles, including mutual funds, commingled funds, and a collective investment fund in both US small-cap and mid-cap equity strategies as well as emerging markets all-cap and small-cap equity strategies. The portfolio is comprised of companies that the firm believes have attractive long-term fundamentals, appreciation potential, and valuations.

Recent Transactions
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Freshpet, Inc. issued USD Common Stock

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Freshpet, Inc. issued USD Common Stock

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MidOcean Partners purchases Freshpet, Inc. from Tyson Foods, Inc., The Cypress Group LLC

Insider Transactions
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Transaction Advisors
Underwriter

Advised onFreshpet, Inc. issued USD Common Stock

Escrow Agent

Advised onFreshpet, Inc. issued USD Common Stock

Underwriter

Advised onFreshpet, Inc. issued USD Common Stock

Legal Advisor

Advised onFreshpet, Inc. issued USD Common Stock

Legal Advisor

Advised onFreshpet, Inc. issued USD Common Stock

Legal Advisor

Advised onFreshpet, Inc. issued USD Common Stock

Advisors & Consultants
Publicist

Partner at ICR LLC

Consultant

Chief Executive Officer & Co-Founder at Go 7 Brands LLC

Publicist

Managing Partner at ICR LLC

Clients

Amazon.com, Inc. engages in the provision of online retail shopping services. It operates through the following business segments: North America, International, and Amazon Web Services (AWS). The North America segment includes retail sales of consumer products and subscriptions through North America-focused websites such as www.amazon.com and www.amazon.ca. The International segment offers retail sales of consumer products and subscriptions through internationally-focused websites. The Amazon Web Services segment involves in the global sales of compute, storage, database, and AWS service offerings for start-ups, enterprises, government agencies, and academic institutions. The company was founded by Jeffrey P. Bezos in July 1994 and is headquartered in Seattle, WA.

Berkshire Hathaway, Inc. provides property and casualty insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing, and services. It operates through following segments: GEICO, Berkshire Hathaway Reinsurance Group, Berkshire Hathaway Primary Group, Burlington Northern Santa Fe, LLC (BNSF), Berkshire Hathaway Energy, McLane Company, Manufacturing, and Service and Retailing. The GEICO segments involves in underwriting private passenger automobile insurance mainly by direct response methods. The Berkshire Hathaway Reinsurance Group segment consists of underwriting excess-of-loss and quota-share and facultative reinsurance worldwide. The Berkshire Hathaway Primary Group segment comprises of underwriting multiple lines of property and casualty insurance policies for primarily commercial accounts. The BNSF segment operates railroad systems in North America. The Berkshire Hathaway Energy segments deals with regulated electric and gas utility, including power generation and distribution activities, and real estate brokerage activities. The McLane Company segment offers wholesale distribution of groceries and non-food items. The Manufacturing segment includes industrial and end-user products, building products, and apparel. The Service and Retailing segment provides fractional aircraft ownership programs, aviation pilot training, electronic components distribution, and various retailing businesses, including automobile dealerships, and trailer and furniture leasing. The company was founded by Oliver Chace in 1839 and is headquartered in Omaha, NE.

Walmart, Inc. engages in retail and wholesale business. The Company offers an assortment of merchandise and services at everyday low prices. It operates through the following business segments: Walmart U.S., Walmart International, and Sam's Club. The Walmart U.S. segment operates as a merchandiser of consumer products, operating under the Walmart, Wal-Mart, and Walmart Neighborhood Market brands, as well as walmart.com and other eCommerce brands. The Walmart International segment manages supercenters, supermarkets, hypermarkets, warehouse clubs, and cash & carry outside of the United States. The Sam's Club segment comprises membership-only warehouse clubs and samsclubs.com. The company was founded by Samuel Moore Walton and James Lawrence Walton in 1945 and is headquartered in Bentonville, AR.

Key Stats and Financials As of 2019
Market Capitalization
$2.93B
Total Enterprise Value
$2.18B
Earnings Per Share
$-0.04
Revenue
$246M
Net Profit
$-1.38M
EBITDA
$15.7M
EBITDAMargin
6.37%
Total Debt
$64.1M
Total Equity
$131M
Enterprise Value Sales
8.86x
Enterprise Value EBITDAOperating
138.45x
TEVNet Income
-1,575.78x
Debt TEV
0.03x
Five Year Compounded Annual Growth Rate Of Revenue
23.16%
Three Year Compounded Annual Growth Rate Of Revenue
22.71%
Non-Profit Donations & Grants
$10K - $25K
2018
$10K - $50K
2017
$5,000 - $10K
2016
Investors
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Tyson Foods, Inc. engages in the production of processed food. It operates through the following segments: Chicken, Beef, Pork, and Prepared Foods. The Chicken segment involves in domestic operations related to raising and processing live chickens into fresh, frozen, and value-added chicken products, as well as sales from allied products. The Beef segment includes operations related to processing live fed cattle and fabricating dressed beef carcasses into primal and sub-primal meat cuts and case-ready products. The Pork segment comprises operations related to processing live market hogs and fabricating pork carcasses into primal and sub-primal cuts and case-ready products. The Prepared Foods segment manufactures and markets frozen and refrigerated food products and logistic operations to move products through the supply chain. The company was founded by John W. Tyson in 1935 and is headquartered in Springdale, AR.

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Cypress Group invests in privately negotiated transactions, targeting operating businesses and investing with management to foster continued growth.The firm focuses on the following industries: aerospace/defense, automotive, building products, construction materials, consumer products, financial services, general industrial, healthcare, lodging and leisure, media/entertainment, packaging, retail and services.

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Established in 2003, MidOcean Partners is a premier New York-based alternative asset manager that specializes in middle market private equity and alternative credit investments. Since inception, the focus of the private equity funds has been on high-quality middle market companies in the U.S. with attractive strategic, operational and financial growth opportunities in the Consumer and Business Services sectors. MidOcean targets control investments with minimum equity contribution of $25 million. The Firm's seasoned investment team is supported by an experienced Executive Board and its Management Affiliates, allowing MidOcean to be an active investor in the Consumer and Business Services sectors. MidOcean Partners is dedicated to driving strategic, operational, and financial growth in portfolio companies and has a strong history of proven investment success through varying market conditions. MidOcean invests with both management expertise and insight into economic cycles, aligning with management teams and drawing upon a vast network of resources to deliver significant results for its partners.

Suppliers
Walmart, Inc. Retail: Other | Bentonville, Arkansas

Walmart, Inc. engages in retail and wholesale business. The Company offers an assortment of merchandise and services at everyday low prices. It operates through the following business segments: Walmart U.S., Walmart International, and Sam's Club. The Walmart U.S. segment operates as a merchandiser of consumer products, operating under the Walmart, Wal-Mart, and Walmart Neighborhood Market brands, as well as walmart.com and other eCommerce brands. The Walmart International segment manages supercenters, supermarkets, hypermarkets, warehouse clubs, and cash & carry outside of the United States. The Sam's Club segment comprises membership-only warehouse clubs and samsclubs.com. The company was founded by Samuel Moore Walton and James Lawrence Walton in 1945 and is headquartered in Bentonville, AR.

Microsoft Corporation Computer Software | Redmond, WA

Microsoft Corp. engages in the development and support of software, services, devices, and solutions. It operates through the following business segments: Productivity and Business Processes; Intelligent Cloud; and More Personal Computing. The Productivity and Business Processes segment comprises products and services in the portfolio of productivity, communication, and information services of the company spanning a variety of devices and platform. The Intelligent Cloud segment refers to the public, private, and hybrid serve products and cloud services of the company which can power modern business. The More Personal Computing segment encompasses products and services geared towards the interests of end users, developers, and IT professionals across all devices. The firm also offers operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; video games; personal computers, tablets; gaming and entertainment consoles; other intelligent devices; and related accessories. The company was founded by Paul Gardner Allen and William Henry Gates III in 1975 and is headquartered in Redmond, WA.

Alphabet, Inc. Internet Software & Services | Mountain View, CA

Alphabet, Inc. is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube. The Other Bets segment consists of businesses such as Access, Calico, CapitalG, GV, Verily, Waymo, and X. The company was founded by Lawrence E. Page and Sergey Mikhaylovich Brin on October 2, 2015 and is headquartered in Mountain View, CA.

Competitors
The J. M. Smucker Co. Food - Orrville, Ohio

The J. M. Smucker Co. engages in the manufacture and marketing of food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes domestic sales of Folgers, Dunkin' Donuts, and Café Bustelo branded coffee. The U.S. Retail Consumer Foods segment sells Smucker's, Jif, and Crisco branded products. The U.S. Retail Pet Foods comprises Rachael Ray Nutrish, Meow Mix, Milk-Bone, Natural Balance, Kibbles 'n Bits, 9Lives, Nature's Recipe, and Pup-Peroni branded products. The International and Foodservice segment covers products distributed domestically and in foreign countries through retail channels and foodservice distributors and operators. The company was founded by Jerome Monroe Smucker in 1897 and is headquartered in Orrville, OH.

General Mills, Inc. Food - Minneapolis, MN

General Mills, Inc. engages in the manufacture and marketing of branded consumer foods sold through retail stores. It operates through the following segments: North America Retail; Convenience Stores and Foodservice; Europe and Australia; and Asia and Latin America; and Pet. The North America Retail segment reflects business with a variety of grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains, and e-commerce grocery providers. The Convenience Stores and Foodservice segment consists of ready-to-eat cereals, snacks, refrigerated yogurt, frozen meals, unbaked and fully baked frozen dough products, and baking mixes. The Europe and Australia segment refers to the retail and foodservice businesses in the greater Europe and Australian region, which includes yogurt, meal kits, super-premium ice cream, refrigerated and frozen dough products, shelf stable vegetables, grain snacks, and dessert and baking mixes. The Asia and Latin America segment encompasses the retail and foodservice businesses in the greater Asia and South America regions, which consist of premium ice cream and frozen desserts, refrigerated and frozen dough products, dessert and baking mixes, meal kits, salty and grain snacks, wellness beverages, and refrigerated yogurt. The Pet segment represents the pet food products sold primarily in the United States in specialty channels, including national pet superstore chains, regional pet store chains, neighborhood pet stores, and farm and feed stores; e-commerce retailers; military outlets; hardware stores; veterinary clinics and hospitals; and grocery and mass merchandisers. The company was founded by Cadwallader C. Washburn in 1866 and is headquartered in Minneapolis, MN.

Nestlé SA Food - Vevey, Switzerland

Nestlé S.A. is a Swiss multinational food and drink processing conglomerate corporation headquartered in Vevey, Vaud, Switzerland. It is the largest food company in the world, measured by revenues and other metrics, since 2014. It ranked No. 64 on the Fortune Global 500 in 2017 and No. 33 on the 2016 edition of the Forbes Global 2000 list of largest public companies. Nestlé's products include baby food, medical food, bottled water, breakfast cereals, coffee and tea, confectionery, dairy products, ice cream, frozen food, pet foods, and snacks. Twenty-nine of Nestlé's brands have annual sales of over CHF1 billion (about US$1.1 billion), including Nespresso, Nescafé, Kit Kat, Smarties, Nesquik, Stouffer's, Vittel, and Maggi. Nestlé has 447 factories, operates in 189 countries, and employs around 339,000 people. It is one of the main shareholders of L'Oreal, the world's largest cosmetics company. Nestlé was formed in 1905 by the merger of the Anglo-Swiss Milk Company, established in 1866 by brothers George and Charles Page, and Farine Lactée Henri Nestlé, founded in 1866 by Henri Nestlé. The company grew significantly during the First World War and again following the Second World War, expanding its offerings beyond its early condensed milk and infant formula products. The company has made a number of corporate acquisitions, including Crosse & Blackwell in 1950, Findus in 1963, Libby's in 1971, Rowntree Mackintosh in 1988, Klim in 1998, and Gerber in 2007. The company has seen various controversies, facing criticism and boycotts over its marketing of baby formula as an alternative to breastfeeding in developing countries, its reliance on child labour in cocoa production, and its production and promotion of bottled water.

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