Kian Capital Transaction Announcement — Jones Natural Chews

Kian Capital is pleased to announce that it has invested $10.0 million of senior secured subordinated debt and preferred equity to support Azalea Capital’s acquisition of a controlling interest in Jones Natural Chews Co. (“JNC” or the “Company”).  JNC, based in Rockford, Illinois, is a manufacturer of premium, all natural dog treats and chews. The Company manufactures a wide variety of products, all of which are 100% all natural and 100% made in the USA – a key differentiating factor from JNC’s competitors.

The Jones family, which has six generations of meat manufacturing expertise, has retained a significant ownership stake in the Company and will continue to manage the business. Azalea and Kian are partnering with Michelle Higdon, a seasoned consumer products industry executive with over 10 years of direct operating experience in the pet industry, most recently as the CEO of Solid Gold Pet, a leader in holistic pet nutrition. Michelle’s career has been focused on leading management teams through strategic sales growth and operational transition and she will be a valuable resource in helping JNC capitalize on its many growth opportunities.

Patrick Duncan, Managing Partner at Azalea Capital, said “Kian Capital and Azalea have maintained a close relationship for many years and we are excited to partner with them on this transaction. We believe Kian’s flexible capital structure and manufacturing and consumer products experience will be highly valuable as we continue to work with the Jones family to build Jones Natural Chews into the industry’s leading provider of premium, all natural dog treats.”

Rick Cravey, Partner at Kian Capital, said “We were thrilled to have the opportunity to support Azalea Capital’s acquisition of Jones Natural Chews. We have been very impressed with what the Jones family has accomplished, and we look forward to working with them, Azalea Capital and Michelle Higdon to continue the Company’s impressive growth trajectory.”