PFM Capital Inc. Invests In National Pet Retailer Bone & Biscuit Co.
Regina, Saskatchewan – The Bone & Biscuit Co. Holdings Inc. (“Bone & Biscuit”) announced today that it has partnered with PFM Capital Inc. (“PFM”), on behalf of the Apex III Investment Fund Limited Partnership (“Apex III”), to support the continuation of Bone & Biscuit’s expansion strategy.
Bone & Biscuit is a leading BC-based franchisor of pet retail stores, with over 50 locations across Canada. Since the opening of its first location in 2008, the Company has focused on providing health conscious pet owners with natural and healthy pet food, supplies and accessories in a boutique store setting with a focus on personalized service and pet education. Through this partnership, Bone & Biscuit plans to expand its Canadian footprint and actively pursue further growth opportunities.
“Bone & Biscuit is thrilled to have partnered with PFM, selecting a group which shared similar values and investment philosophy played an integral role in our decision”, said Lee Drescher, co-CEO of The Bone & Biscuit Co. Holdings Inc. “We now have resources at our disposal to aggressively expand our proven concept nationally and beyond and couldn’t be more excited about the next chapter”.
“PFM is very excited about Bone & Biscuit’s growth prospects as the Company continues to expand its unique product-offering and boutique store-front across Canada,” said Jardin Schnurr, Director of Investments at PFM Capital Inc. “We are looking forward to working with Lee, Steve, the rest of the Bone & Biscuit staff and the franchise owners as we look to take the Company to its next stage of growth.”
Deloitte Corporate Finance Inc. served as exclusive financial advisor to Bone & Biscuit in the transaction.
About Bone & Biscuit
Founded in 2008 and headquartered in Kelowna, British Columbia, Bone & Biscuit is a pet retail franchise that offers a range of food and products including high quality raw, dry and canned foods, an abundant selection of natural treats, homeopathic supplements, unique artisan baked goods, clothing and a comprehensive range of toys and general care items for everyday use. With over 50 store locations across Canada, the Company continues to grow with the mission to provide pet owners the education and knowledge to make informed product decisions for their beloved companions. For more information please visit www.boneandbiscuit.ca
About PFM Capital Inc.
PFM Capital Inc. is Saskatchewan’s largest private equity investment firm with over $750 million in assets under management across several funds. Based in Regina, Saskatchewan, PFM’s niche focus allows investors to benefit from the Prairies’ economic strengths by taking advantage of the firm’s established local contact network and long term track record. PFM is employee-owned and has been managing private equity and venture capital funds since 1993. For more information please visit www.pfm.ca