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

Golden Pet Brands, a pet food company encompassing brands Dr. Marty Pets, Badlands Ranch, and Ultimate Pet Nutrition, is in the process of arranging an initial public offering (IPO) with the assistance of major investment banks, according to sources familiar with the situation. This IPO, potentially set to take place in New York, may value the company at more than $1 billion, the sources indicated, requesting anonymity due to the private nature of the information.

Morgan Stanley and Barclays, two prominent investment banks, are among the firms expected to participate in the IPO, though they have not commented on the matter. The company, established in 2017 by Golden Hippo, operates under an Employee Stock Ownership Plan (ESOP) model and has manufacturing facilities in the United States. The three brands produced by Golden Pet Brands cater to the dietary needs of dogs and cats.

Notable figures, such as veterinarian Dr. Marty Goldstein, fashion influencer Katherine Heigl, and actor Rob Lowe, have been associated with the company's brands. In April, the CEO and CFO positions were filled by Apu Mody and John Meloun, respectively, both of whom have previous experience at major corporations such as Mars, Procter & Gamble, Del Monte Foods, and Xponential Fitness.