Canidae Pet Foods/Natural Balance Pet Foods

Both brands are owned by L Catterton, the global consumer-focused private equity firm created through a partnership between Catterton, LVMH, and Groupe Arnault. L Catterton acquired Canidae and purchased Natural Balance from The J.M. Smucker Company in early 2021, then merged the two into a single operating platform headquartered in San Diego.

They function as distinct consumer-facing brands within the same corporate entity. Canidae is positioned around limited-ingredient and sustainably sourced recipes, while Natural Balance carries a legacy of veterinary-formulated diets. They share back-office functions, procurement, and distribution infrastructure while maintaining separate brand identities and retailer relationships.

Distribution spans specialty pet retailers such as Petco and independent pet stores, alongside e-commerce platforms including Chewy and Amazon. Some products also reach select mass-merchant shelves, though the brands are primarily positioned in the super-premium tier rather than the grocery-channel mainstream.

It is a private equity-backed operating company assembled through a buy-and-build thesis by L Catterton. The platform does not invest external capital into other companies, nor does it manage family wealth — it is itself a portfolio company held inside a private equity fund or continuation vehicle.

Historically, Canidae and Natural Balance have contracted with third-party co-packers across the United States for manufacturing. This is consistent with the capital-light model favored by private equity sponsors assembling consumer platforms, where fixed-asset intensity is minimized in favor of brand-building and distribution scale.