The US investment firm Clayton, Dubilier & Rice has acquired the international pet product company Radio Systems (Petsafe, Kurgo etc), described as “the leading innovator in the companion pet health and safety industry”.
Radio Systems was founded by Randy Boyd in 1991 and has more than 800 employees worldwide. The company, which sells its products in over 50 countries, is headquartered in Knoxville/Tennessee, where it will remain. John Compton, the former president of PepsiCo and one of CD&R’s partners, will become chairman of Radio System Corporation’s board of directors. Founder and chairman Randy Boyd has agreed to serve on the board of directors to maintain continuity.
After reviewing nearly a dozen offers, Radio Systems’ board of directors unanimously approved the transaction. Keeping the company in Knoxville was a huge motivator for the sale. The deal is expected to close in June.
Source: Pet Worldwide