An Oldsmar-based pet health and wellness company has something to celebrate after receiving a $5 million investment from Alphia, a U.S. custom pet food manufacturer.
Better Choice Company Inc., a publicly traded company on the NYSE, plans to use the investment to eliminate debt from the company’s subsidiary brand Halo, Purely for Pets Inc., while also improving its liquidity, according to a statement.
“We look forward to working with Alphia, leveraging their investment and deep knowledge of the pet food manufacturing marketplace,” Michael Young, chairman of Better Choice, says in the press release.
“Better Choice shares our values and mission to create high-quality, nutritional dog food and treats for family’s pets,” Dave McLain, Alphia CEO, says in the release. "This investment brings us closer to a strong brand that shares our values for the highest product quality and food safety. We are ready to help propel growth for both companies.”
In addition to the investment, Alphia has committed to becoming the manufacturer for the Halo brand.
"Solidifying a long-term manufacturing relationship with Better Choice is in line with Alphia's vision to nourish and protect pets every day, creating a lasting impact with brand partners that share our views on safe, high quality pet food." McLain says in a separate press release. "We respect the Halo brand and look forward to fueling their growth to feed more pets."