Dog food maker Ollie acquired by Spain’s Agrolimen

By Abigail Summerville

Feb 6 (Reuters) - Fresh dog food maker Ollie has been acquired by family-owned Spanish conglomerate Agrolimen, according to a statement from Ollie seen by Reuters on Friday, in a deal that sources said values the brand at over $600 million.

The acquisition will strengthen the presence of Barcelona-based Agrolimen in the U.S. pet food market. Ollie makes fresh, human-grade dog food and uses a subscription-based model.

Ollie did not comment on the value of the deal and Agrolimen did not respond to requests for comment about the deal value.

The fresh pet food market has exploded as consumers continue to spend top dollar on their pets. Most of those companies are still private, such as Ollie and The Farmer's Dog, but Freshpet FRPT.O went public in 2014.

Agrolimen, owned by the Carulla family, has several pet food investments including Nature’s Variety in the U.S. and Affinity Petcare in Europe. It also owns food company GBFoods, formerly known as Gallina Blanca.

New York City-based Ollie was founded in 2016 by Gabby Slome, Alex Douzet and Randy Jimenez. In 2019, Nick Stafford joined the company as CEO. Some of its biggest investors included Primary Venture Partners, Canaan Partners, Quadrille Capital, ECP Growth and Lerer Hippeau.

“As Pet Parents across the U.S. push for higher standards in nutrition, the transaction allows us to scale our mission faster and further than ever before," Stafford said in the statement. "Together with Agrolimen, we’re not just growing a business—we’re shaping the future of dog wellbeing through disciplined growth, exceptional products and innovative customer technology such as our AI powered health screenings."

No changes are planned for Ollie’s leadership and operations, and the company will continue to be headquartered in the U.S., according to the statement.