Partnership Expands Nationwide Distribution and Enhances Customer Support
Easton, PA — Phillips Pet Food & Supplies (“Phillips”), a leading distributor in the pet food and supplies industry, today announced an agreement to form a strategic joint venture with Central Garden & Pet, a market leader in the pet and garden sectors. The partnership is designed to unlock new growth opportunities while enhancing service and value for vendors, customers, and employees.
Under the terms of the agreement, Central will receive cash proceeds and retain a 20% ownership stake in the newly formed entity. Phillips and its existing investors, led by Axar Capital Management LP and Blaine Phillips, will hold a controlling interest. The joint venture will operate as an independent company.
“I built Phillips from a small family feed store into a national distributor focused on improving the lives of pets and the people who care for them,” said Blaine Phillips, CEO and Chairman of Phillips. “Partnering with Central—an industry leader that shares our values—represents an exciting next chapter. Together, we are well positioned to build on our legacy while delivering greater innovation and service across the pet care ecosystem.”
“Phillips and Central bring together highly complementary distribution capabilities,” said Niko Lahanas, CEO of Central Garden & Pet. “This joint venture reduces operational complexity, offers meaningful network optimization opportunities, and enables us to focus even more on building and investing in our branded portfolio. By streamlining our distribution footprint, we can allocate more resources toward our key initiatives, including innovation, digital engagement, and brand development, which are core to advancing our Central to Home strategy.”
Together, the companies will create a nationally scaled distribution platform with expanded reach, enhanced service capabilities, and a more efficient supply chain. The combined network will serve all major channels, including specialty retailers, big box, eCommerce, farm & feed, second-party fulfillment, and third-party logistics.
The joint venture will offer a comprehensive portfolio spanning pet food, supplies, fresh and frozen products across categories such as dog, cat, aquatics, small animal, equine, and reptile. With coverage across all 50 states, the platform is positioned to deliver increased value across the pet care ecosystem—providing vendors with broader market access and customers with the tools and resources needed to support long-term growth.
“By bringing together complementary scale and service capabilities nationwide, this transaction represents a milestone for the Phillips platform and the broader pet distribution ecosystem,” said Grant Mitchell, Deputy CIO of Axar Capital Management. “This transaction uniquely positions Phillips to support the evolving needs of our customers and vendors nationwide while maintaining the service orientation that has defines both businesses for decades.”
Phillips was advised by Davis Polk as legal counsel. Central was advised by Orrick.
