H.I.G. WhiteHorse Announces €120 Million Financing for Nasta Pet Food's Expansion

H.I.G. WhiteHorse Secures Financing for Nasta Pet Food

H.I.G. WhiteHorse, a credit affiliate of H.I.G. Capital and a major player in the global alternative investment landscape, has recently announced the successful closure of a €120 million financing round for Nasta Pet Food. This funding marks a significant milestone for Nasta as it seeks to bolster its operations and expand its footprint in the pet food industry.

Nasta, founded in 2016 and headquartered in France, specializes in high-end nutrition for pets. Over the years, the company has built an impressive portfolio of established brands and has integrated production facilities in both France and Italy. The funding will specifically support the acquisition of FirstMate Pet Foods, a renowned manufacturer of premium pet foods located in British Columbia, Canada. This acquisition serves as a strategic step in Nasta’s broader strategy to grow in North America.

Following this acquisition, the newly combined entity will operate an integrated industrial platform across Europe and North America, with an estimated annual production capacity of about 45,000 tons of dry pet food and 4,000 tons of wet pet food. This level of production is expected to cater to over 400,000 pet-owning households worldwide. By 2026, Nasta aims to achieve a consolidated revenue of approximately €200 million, showcasing its ambitious growth objectives.

Geoffroy Lefebvre, CEO of Nasta, expressed enthusiasm about the partnership with H.I.G. WhiteHorse, stating, "This marks the beginning of a new growth chapter for Nasta. The support from a globally recognized institution not only reinforces the credibility of our vision but also underscores the caliber of our teams and brands. As we embark on this growth path, we are excited to collaborate with H.I.G. in shaping the future of our group."

Pascal Meysson, head of H.I.G. WhiteHorse Europe, commented on the deal, "We are thrilled to provide Nasta with a financing solution that aligns perfectly with its strategic ambitions. This transaction highlights H.I.G. WhiteHorse Europe's capability to provide flexible and scalable capital to help sponsorless businesses execute transformative cross-border acquisitions."

Charles Bourgeois, Managing Director at H.I.G. WhiteHorse Europe, also emphasized Nasta's robust positioning within the appealing and resilient premium pet nutrition sector. He noted, "Nasta boasts integrated industrial capabilities, a compelling international growth strategy, and a high-level management team—and this acquisition of FirstMate Pet Foods is a vital step towards enhancing its market presence in North America."

About Nasta Pet Food

Founded as a family-owned international group, Nasta focuses on ultra-premium pet nutrition, merging benefits of nature, science, and palatability. The company’s commitment to quality, transparency, and nutritional performance is evident in its diverse portfolio, which includes notable brands such as Bab'in, Forza10, Natural Code, and FirstMate Pet Foods. Collectively, these brands represent over 150 years of expertise in animal nutrition, showcasing Nasta's dedication to excellence.

With a presence in France, Italy, North America, and China, Nasta distributes its products across more than 30 global markets while maintaining a sustainable growth strategy centered on organic development and targeted acquisitions.

About H.I.G. Capital

H.I.G. Capital stands as one of the leading global alternative investment firms, boasting $74 billion in capital under management. Established in 1993, H.I.G. has an extensive operational footprint with offices in major cities across the United States, including Miami, Atlanta, Boston, Chicago, New York, and San Francisco, as well as an international presence in various global financial hubs.

The firm specializes in providing flexible debt and equity capital to middle-market companies, employing a results-driven, operational approach to foster growth and create value. H.I.G.'s diverse portfolio encompasses over 100 companies, cumulatively generating more than $53 billion in revenue, reflecting its significant influence in the investment community.

For more details on H.I.G. Capital, please visit hig.com.