Monarch Alternative Capital $150 million investment in The Honest Kitchen
We are advising Monarch Alternative Capital on the transaction
Davis Polk is advising Monarch Alternative Capital LP on its $150 million minority investment in The Honest Kitchen. Monarch will partner with founder Lucy Postins, as well as existing equity investors Alliance Consumer Growth and White Road Investments to help drive the future growth of the company. In conjunction with its investment, Monarch appointed Patrick Fallon, Managing Principal at Monarch, and Bob Rubin, a long-standing pet food industry executive and founder of Breakaway Advisors LLC, to The Honest Kitchen Board of Directors.
Monarch Alternative Capital LP is a global investment firm founded in 2002 with approximately $9.5 billion in assets under management. Monarch focuses primarily on opportunistic situations across corporate debt, real estate, capital solutions and other market segments. The Honest Kitchen was founded by Lucy Postins in 2002 in San Diego, California, with a mission to help as many pets as possible get on the road to good health, through good food. They produce a full line of human-grade complete and balanced foods for pets including dry, dehydrated and wet foods, as well as treats, toppers, hydration boosters and a best-selling digestive supplement. The Honest Kitchen was the first-ever human-grade pet food, meaning the finished product meets human food production standards.
The Davis Polk corporate team includes partners Lee Hochbaum and Maurice Blanco and associates Heather Weigel and Jessica L. Teng. The tax team includes counsel Alon Gurfinkel and associate Kelli A. Rivers. Partner Jennifer S. Conway is providing executive compensation advice. The intellectual property and technology transactions team includes partner David R. Bauer and associate S. Dream Montgomery. Members of the Davis Polk team are based in the New York and London offices.