FIRSTMATE PET FOODS acquired by NASTA PET FOOD
Context
Nasta Pet Food acquired 100% of the shares of FirstMate Pet Foods from its founder and partner. This transatlantic consolidation aims to establish the acquirer as a major player in the North American market, the world's largest pet food region. The acquisition was funded through a major EUR118 million unitranche refinancing package provided by an international debt fund. This financing also serves to retire existing bank debt and provides a confirmed, undrawn CAPEX line for future growth. The strategic rationale focuses on combining European veterinary expertise with North American manufacturing capabilities and digital distribution networks. Following the integration, the new group employs 250 people and aims for a consolidated turnover of EUR200 million in 2026.
FIRSTMATE PET FOODS, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the AgriFood sector (11.0x).
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Target
FirstMate is a premium manufacturer of cat and dog food. The company operates a sophisticated Corporate platform consisting of a "dry" food unit (kibble) with an annual capacity of 20,000 tons and a "wet" food unit (canned pates and fillets) producing 2,000 tons. Employing 120 people, the firm has built a strong reputation for high-quality nutritional formulations distributed across Canada and the United States, with an emerging presence in Taiwan and parts of Europe. It is particularly active in digital distribution channels, including major platforms like Amazon and Chewy.
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| 01/2026 | KEURIG DR PEPPER | JDE PEETS | NETHERLANDS | Coffee & Tea |
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| 01/2026 | FRIULIA | PINTAUDI | ITALY | Food Products |
| 01/2026 | ILLVA SARONNO | DELITE | ITALY | Ingredients |
| 12/2025 | ANHEUSER-BUSCH INBEV (AB INBEV) | BEATBOX BEVERAGES | UNITED STATES | Soft Drinks |
REFERENCES
Valuation range: EV 50M - 150M EUR
Revenue range: 50M - 100M EUR
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: firstmate pet foods