Fort Collins-based PetDine LLC, which makes pet supplements and treats, has purchased 49,668 square feet of industrial space in Windsor for $11.712 million in a bid to further expand production of its products.
The seller was Five M Enterprises, which is tied to an Englewood-based investment firm, according to the Colorado secretary of state. Petdine’s purchase of space at 1132 Diamond Valley Drive, Unit 200, on Sept. 16 is the latest in a series of deals involving PetDine, Five M Enterprises and Archer Daniels Midland Co., which purchased a 75 % in PetDine LLC and three related companies for $450 million in September 2021.
Justin Boling, Marketing Director of PetDine, said the purpose of the purchase “is to better support our current customers and their continued growth with more efficient production processes by housing additional pre- and post-production supplies at proximity to our new 105,000 square foot manufacturing facility,” this space, at 1130 Diamond Valley Drive, was purchased in October 2021, and production was scheduled to begin there last January.
“With approximately 50,000 additional square feet,” Boling wrote in an email to BizWest, “we can easily store and prepare materials for production and customer needs. Additionally, it will bring up to 20 new jobs at various levels to northern Colorado.
In addition to PetDine’s headquarters at 4700 Innovation Drive in Fort Collins and existing plants in Windsor and Greeley, as well as a large manufacturing facility in Harvard, Illinois, northwest of Chicago, Boling said that ” our second plant in Windsor offers timely increased growth opportunities in the pet industry.
Boling said there are no current plans to shut down existing PetDine facilities.
On October 7, 2021, Diamond Valley Properties LLC, a company formed in May 2021 by PetDine Properties LLC and sharing its Fort Collins address, sold the adjacent Diamond Valley space to Archer Daniels Midland for $16.83 million. Both spaces are in the Diamond Valley Tech Center, near the intersection of Colo. 257 and Eastman Park Drive.
Just over a month earlier, on July 30, 2021, Diamond Valley purchased the year-old industrial building from 5M for $17.25 million. A PetDine spokesperson at the time said he was still trying to buy the real estate he occupied.
Five M bought a 62,000 square foot building in the same area for $8.1 million, after selling to Diamond Valley.
PetDine was making 750 million treats a month in mid-2021, before buying the new Windsor facility, with around $50 million in annual sales. A spokesperson said at the time that production was expected to triple by mid-2022 with this new building and an announced expansion of the one in Illinois.
PetDine’s primary products are soft chews, liquid food fillings, powdered supplements and ingredients for client brands. Most are aimed at dogs, although last year the company started adding products for cats as well.
Documents filed with the Colorado Secretary of State show Five M Enterprises LLC and another company, Belitz Capital Holdings LLC in Englewood linked to Michael Belitz and Lisa Maguire. Belitz is CEO of Loveland-based Ultimate Support Systems, according to his LinkedIn profile. The company manufactures stands and accessories for musical equipment.
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