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