Consumer Products Acquisitions in Virginia

Central Garden & Pet (NASDAQ: CENT) has acquired TDBBS, LLC — the owner of Best Bully Sticks, Barkworthies and Paw Love — from private equity firm Bregal Partners. The Richmond, Virginia–based natural dog chews and treats business bolsters Central’s dog treats and chews portfolio and strengthens its eCommerce and digital capabilities; the transaction closed on November 3, 2023.

Townsend Street Capital, in partnership with HighGrove Companies, has acquired a controlling interest in Spire Collective (dba Spire), a Troy, Virginia-based designer and engineer of outdoor gear storage and garage organization products. Midwest Mezzanine Funds and Oxer Capital provided subordinated/unitranche debt financing and also co-invested alongside the sponsors; Spire’s founders and management will remain in leadership and retain a meaningful ownership stake to support the company’s next phase of growth.

3Z Brands, a vertically-integrated mattress manufacturer and DTC brand platform, has acquired Leesa Sleep, a direct-to-consumer mattress company founded in Virginia Beach. The deal expands 3Z's portfolio of sleep brands and strengthens its manufacturing and digital capabilities as part of an ongoing roll-up strategy backed by private equity.

Grand Fitness Partners, backed by private equity firm HGGC, acquired a portfolio of 13 Planet Fitness locations across Virginia from the Asbell Group. The acquisition expands Grand Fitness's footprint into Virginia and brings its club count to 57; financial terms were not disclosed.

L2 Capital Partners recapitalized YakAttack, a vertically integrated designer and U.S. manufacturer of kayak fishing accessories headquartered in Farmville, Virginia. Salem Investment Partners and Oxer Capital provided debt financing and co-invested; terms were not disclosed. L2 said it will partner with founder Luther Cifers and management to expand product development, sales channels and distribution.

Brynwood Partners VIII L.P., through its newly formed portfolio company Buitoni Food Company, has entered into a definitive agreement to acquire the North American Buitoni business from Nestlé USA. The deal (terms undisclosed) includes a 240,000 sq. ft. manufacturing facility in Danville, Virginia with approximately 525 full-time employees and rights to the Buitoni brand in the U.S., Canada and the Caribbean; Buitoni Food Company will be headquartered in Stamford, Connecticut.