H.I.G. WhiteHorse Secures Financing for Nasta Pet Food's Expansion Plans

H.I.G. WhiteHorse, the lending subsidiary of H.I.G. Capital — a prominent global alternative investment firm managing approximately $74 billion in equity capital — has recently announced the arrangement of a substantial financing package amounting to €120 million for Nasta Pet Food. This financial support is set to facilitate Nasta's strategic acquisition of FirstMate Pet Foods, a leading premium pet food manufacturer based in British Columbia, Canada.

Nasta, established in 2016 and headquartered in France, specializes in ultra-premium pet food products and operates an impressive portfolio of well-known brands. These include Bab'in, Forza10, Natural Code, and FirstMate Pet Foods. The company's integrated production capabilities span across France and Italy, demonstrating its commitment to high-quality standards and sustainable growth.

The financing will not only aid in the acquisition of FirstMate but also bolster Nasta's growth strategy in the North American market, a key area for future expansion. Post-acquisition, the combined entity will establish a robust integrated platform in both Europe and North America, boasting an annual production capacity of around 45,000 tons of dry pet food and 4,000 tons of wet pet food. This enhanced capacity will significantly benefit over 400,000 pet-owning households globally.

Geoffroy Lefebvre, the CEO of Nasta, expressed enthusiasm about this partnership, signaling a pivotal moment in Nasta’s business trajectory. He stated, “Our partnership with H.I.G. WhiteHorse marks the start of a new chapter of growth and maturity for Nasta. The backing and confidence from such a world-class institution validate our project, teams, and brand heritage.”

Pascal Meysson, the head of H.I.G. WhiteHorse Europe, emphasized the tailored nature of this financing solution, which aligns closely with Nasta's strategic ambitions. This transaction underlines H.I.G. WhiteHorse’s capability of providing flexible, scalable capital to businesses that are engaging in transformative cross-border acquisitions, particularly those without sponsor backing.

Charles Bourgeois, Managing Director at H.I.G. WhiteHorse, echoed these sentiments, stating,