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

• Golden Pet Brands operates under an Employee Stock Ownership Plan (ESOP) model and was spun out from brand incubator Golden Hippo in 2017
• The company's three brands have celebrity backing, including veterinarian Dr. Marty Goldstein (who has treated Oprah Winfrey's pets), actress Katherine Heigl (Badlands Ranch founder), and actor Rob Lowe (Ultimate Pet spokesperson)
• The IPO joins a wave of consumer and retail public listings this summer, including Jersey Mike's and Reformation, as the sector sees renewed IPO activity

Summary

Golden Pet Brands Prepares for $1+ Billion IPO

Golden Pet Brands, owner of premium pet food brands Dr. Marty Pets, Badlands Ranch, and Ultimate Pet Nutrition, has selected investment banks for an initial public offering in New York that could launch as soon as this year, according to sources familiar with the matter.

Key Details:

• Valuation: Expected to exceed $1 billion
• Underwriters: Morgan Stanley and Barclays are leading the listing
• Timing: Potentially before year-end 2024

Company Background:

The El Segundo, California-based company was founded in 2017 by Golden Hippo, a brand incubator and marketing firm, before being spun out as an independent entity using an Employee Stock Ownership Plan (ESOP) model. The company operates two U.S. manufacturing facilities producing food, treats, and supplements for dogs and cats.

Brand Portfolio:

Golden Pet's three brands carry notable celebrity endorsements: Dr. Marty is backed by celebrity veterinarian Dr. Marty Goldstein (who has treated Oprah Winfrey's pets), actress Katherine Heigl founded Badlands Ranch, and actor Rob Lowe serves as spokesperson for Ultimate Pet.

Recent Leadership Changes:

In April, the company appointed Apu Mody as CEO (former executive at Mars, Procter & Gamble, and Del Monte Foods) and John Meloun as CFO (former CFO of Xponential Fitness).

Market Context:

The IPO follows a busy summer for consumer and retail public offerings, including Jersey Mike's and Reformation, with several others in the pipeline. This signals renewed investor appetite for consumer brands, particularly in the growing pet care sector.