Private equity firm Vestar Capital Partners has reached a definitive agreement to sell Woodstream, a leading manufacturer and marketer of branded pest and animal control products, to the Bansk Group. The terms were not disclosed, but the transaction is expected to close in the fourth quarter of 2020.
Woodstream is headquartered in Lancaster, Pennsylvania and has manufacturing facilities in Lititz, Pennsylvania and Knoxville, Tennessee. According to a press release, Woodstream has a wide distribution area with strategically located facilities across North America. The product lines include Victor, Terro, Dynatrap, Safer, Havahart, Mosquito Magnet, Perky-Pet and Zareba.
“Woodstream has achieved double digit sales growth over the past five years with the support of Vestar and has become a more strategic, consumer-centric organization. Much remains to be done, however, “Woodstream CEO Miguel Nistal, who will remain with the company Post-Close, said in a press release. “Our strategy of investing behind product innovation has put the company on a strong growth path and I am grateful to the Woodstream management team, our board of directors and Vestar partners for their commitment to the company. It’s an exciting time at Woodstream and we look forward to our next chapter under Bansk’s ownership. “
Brian O’Connor, Senior Partner and CIO at Bansk, stated in the press release that his team sees Woodstream as “an attractive, long-term platform in the growing and trending pest and animal control category”. We look forward to working with Miguel and the management team to accelerate the investment behind the business and capitalize on the compelling market opportunities. “