Sherman & Howard Represents NaturVet in $475 Million Acquisition by Swedencare AB

DENVER, Colo. (February 14, 2022) – Sherman & Howard served as counsel to The Garmon Corporation d/b/a NaturVet, a California-based pet supplement manufacturer, in its acquisition by Swedencare AB (publ), an international pet healthcare brand, for $475 million. NaturVet is one of the largest and most profitable companies in the U.S. in the premium segment for supplements for the pet healthcare market.

NaturVet products are offered primarily through retail with approximately 15,000 pet shops and via large online platforms such as and Amazon. The products are ranked as the number-one pet supplement brand in four of the top five pet chains in the U.S.

The purchase price of USD 447.5 million on a cash- and debt-free basis correlates to 21.4 times NaturVet’s adjusted preliminary EBITDA-result in 2021. Upon full payment of the earn-out payment (i.e., USD 27.5 million), the total purchase price of $475 million correlates to 22.7 times the company’s adjusted preliminary EBITDA-result in 2021.

“The Sherman & Howard team was critical to helping get our deal across the finish line.  It was a process with a lot of moving parts, so having professional counsel working with our other advisory team members, was crucial to making this happen,” said Scott Garmon, the founder and CEO of NaturVet. “We were thrilled to have them on our team.”

Lyle A. Wallace led the Sherman & Howard team in this transaction. Other Sherman & Howard attorneys working on the transaction included Business Counsel Jackie Benson, Business Member Garth Jensen as Hart-Scott-Rodino counsel, Business Member Jeff Kesselman as securities counsel, Tax Member Michael Dubetz, Employee Benefits Members George Tsai and Kathy Odle, Employee Benefits Associate Russ Johnson, Intellectual Property Member Jon Tandler, Insurance Member Christopher Mosley, Real Estate Member Ryan Christ, Business Associate Garrett Dean, Business Associate Alex Thomas, Business Paralegal Cozette Bordelon and Business Paralegal Suzanne Harrod.

About Sherman & Howard

Sherman & Howard L.L.C. is an Am Law 200 law firm with ten offices in Colorado, Arizona, Nevada, Missouri, and New Mexico. Our attorneys provide high-quality legal and business solutions to a broad range of clients, including private, public, and government entities. We have extensive experience in aerospace and government contracting, infrastructure and construction, financial services, natural resources, telecommunications, technology, manufacturing, consumer products and retail, and nonprofit entities. With over two dozen attorneys who focus exclusively on estate and tax planning and family and matrimonial law, Sherman & Howard also boasts one of the nation’s most respected private client practices. For more information, visit