Manna Pro Products officially changed to Compana Pet Brands as of March 1, 2022; according to CEO John Howe, this change had long been anticipated.
Howe states that his company has undergone remarkable change over the past ten years. “Its roots as a nutrition provider date back 150 years; for most of that time we were focused on agriculture and animal feed products. Since joining, I have led the company on its transformation into a consumer product and pet-oriented enterprise – leaving behind its agricultural roots behind us and focusing on becoming consumer focused. Since then, the growth has been phenomenal! Since becoming CEO in 2008, our revenue has skyrocketed through product innovation, organic expansion and acquisitions. Over time we’ve become very different, so now seems like an appropriate time for us to adopt a more accurate identity that more accurately portrays who we are as an organization and what its direction might be.
Expansion from multiple angles: portfolio growth, acquisitions and following the trends
Compana’s growth has been varied. Through Manna Pro, they completed 15 acquisitions over 10 years – most recently Oxbow Animal Health on January 4th 2022 – as well as organic expansion across various segments of pet food business that continues to see gains, contributing to their current $600 Million in revenues.
Howe notes that the same premiumization trends that exist among dogs and cats exist across multiple pet segments. He anticipates expansion into new pet markets through acquisitions like Oxbow (a premium small animal food brand acquired in April 2021) and ZuPreem (an indoor bird food brand acquired in April 2021). According to Howe, consumption growth across other pet categories will exceed total pet sales growth and surpass that seen with dogs and cats; hence we feel like Oxbow and ZuPreem provide us with an opportunity to take advantage of how consumers perceive their pets through premium brands that expand beyond traditional offerings.”
Compana has entered the direct-to-consumer (DTC) space through two acquisitions – Bullymake is a DTC dog subscription box, while Dinovite provides premium whole food supplements and wellness products for dogs and cats.
“Our aim is to meet consumers where they shop,” according to Howe, who’s excited about opening that pathway up.
Compana’s growth can be found in its success in meeting pet food trends that are popular with dogs and cats, yet also expanding to encompass other pet segments. According to Howe, this differentiation sets them apart from their rivals.
“We believe the same humanization and premiumization trends exist across all of these categories; not just dog and cat,” states he. “That has certainly been an engine of growth over time.” But our research demonstrates that whether it be rabbits, guinea pigs, dogs or cockatoos – they all become members of your family and you want products to help care for and express love through. Of course, consumers want their pets to have similar products as themselves: simple ingredients with clear labels they can understand; traceability, sustainability and ethical sourcing that is ethical sourcing — this doesn’t seem any different for indoor birds than it would for small animal or dog and cat products.
Compana’s primary opportunity: continued expansion
Compana has expanded well beyond its agricultural roots and Howe sees no reason for that trend to cease.
“I see tremendous potential for further expansion,” he asserts. “These include continued portfolio expansion through acquisition and innovation; increasing our media spend to raise brand awareness; retail expansion both domestically and abroad – these initiatives are already underway; but there remains lots of white space we could pursue further; considering that pet care remains somewhat fragmented, I believe there’s plenty of opportunity for us to diversify through acquisition – something which we intend to continue doing!”
Howe asserts that staying on top of trends and meeting customers where they are will be key components to capitalizing on any potential growth opportunities.
“Humanization and premiumization have spread throughout all pet varieties, and I anticipate their continuation,” notes this expert. “These trends should continue to drive outsized growth across other pet categories besides dogs and cats; it’s truly fascinating!” The latter category remains immensely popular but other pets are quickly catching up from an ownership percentage perspective.
“To me, the answer lies within brands and products — this is where it all begins,” states Howe. “Once the products have been created and placed throughout various retail channels – direct-to-consumer (DTC), online retailing sites (e-commerce) brick-and-mortar retail and international – our goal is for our products to become part of their lives whether physical or virtual.”