You are here
Sport Endurance Announces Investment in Nutritional Pet Food Company, TruPet
BROOKLYN, N.Y., Dec. 18, 2018 (GLOBE NEWSWIRE) -- Sport Endurance, Inc. (OTCQB: SENZ) (the “Company”), announced today that it has made a $2.2 million investment in TruPet LLC (“TruPet”), the parent company of TruDog, a family-owned pet food company dedicated to supplying the TruDog line of nutritional food, supplements, and pet care products for dogs, cats, and horses. The $2.2 million investment by Sport Endurance is made in conjunction with a large investment from Cambridge Companies SPG, a highly respected strategic opportunity investment firm based in Newport Beach, CA as part of TruPet’s $5.2 million oversubscribed Series A round.
TruDog has an extensive list of products available to purchase online, ranging from food and energy boosters, raw treats, dental products, grooming products, and natural supplements. Popular items from TruDog include Joint and Flexibility Daily Supplement Powder, CALM ME – Calming Support Soft Chew, and PROTECT ME – Digestive Health Support, all of which are designed to naturally improve the health of dogs. The TruDog product line is currently offered at online retailers such as Amazon, Chewy, and Walmart, as well as its own ecommerce website (www.trudog.com).
David Lelong, Chief Executive Officer of Sport Endurance, stated, “It is our pleasure to invest in TruPet – a pet food and supplement company that closely shares our vision with providing natural and healthy products. With this additional working capital from our Company and Cambridge, TruPet has the opportunity to expand its high-quality product line with a distribution channel to match. We envision using alternative healthcare trends to work together and create a presence in the pet industry by supplying sought after and beneficial products.”
Lori R. Taylor, founder of TruPet, said, “With this investment, we are excited to be able to fund our studies for educational content on CBD for pets as well as further developing innovative health solutions in line with our company promise ‘tested on humans proven safe for pets’. We will be launching an educational docuseries on CBD for pets as well as a new fitness program called Keep Your Best Friend Fit.”
“We see tremendous growth in the K-9 market and very much look forward to expanding our relationship with both TruPet and their incredible team as well as our investment partners at Cambridge SPG,” said Michael Young, Chairman of the Board of Sport Endurance. “Lori and her team have built a fabulous company and incredible brand in the pet space which we look forward to expanding both our investment and partnership in the future.”
Filipp Chebotarev, Chief Operating Officer and Partner at Cambridge SPG, said, “Cambridge SPG sees huge growth in the ‘better for your pet’ pet food space and has identified TruPet as a market leader. The TruPet team, current product portfolio, as well as planned pet innovation are positioned for long term growth in the rapidly expanding pet food market. We are delighted to be a part of their journey.”
About TruPet, LLC.
TruPet, LLC and TruDog, a division of the parent company, were founded in 2013 by Lori Taylor. The family-owned pet food company based in Ohio currently includes 29 animal-loving employees. The company began after founder Lori R. Taylor lost her Great Dane, Truman, to cancer at an early age. Determined to find out why her vibrant dog developed cancer, she set out to learn the truth about pet foods. Through her research, she discovered that most commercial pet foods simply do not provide the level of nutrition and quality that dedicated pet parents demand, so she developed her own brand of freeze dried, biologically appropriate raw foods for dogs. TruDog is the first division of TruPet LLC, which will eventually launch lines of food, supplements, and pet care products for dogs, cats, and horses. The company is named in honor of Truman, the Great Dane who sparked the search for better pet products.
About Cambridge Companies SPG
Cambridge Companies SPG (“Special Projects Group”) is a highly respected strategic opportunity investment firm based in Newport Beach, CA. Cambridge Companies SPG turns opportunities into value by buying controlling and non-controlling interest in companies poised for growth. Cambridge SPG focuses on retail, consumer packaged goods (CPG) as well as Food & Beverage. More information on Cambridge Companies SPG can be found on their website http://www.cambridgespg.com/.
About Sport Endurance, Inc.
At the foundation of Sport Endurance is the belief that good health practices and nutrition contribute to and promote a higher quality of life. The goal of Sport Endurance is to improve the health of others by providing quality and effective nutritional supplement products. Sport Endurance is currently seeking opportunities in the CBD, hemp, and legal cannabis industries. For more information, please visit http://www.sportenduranceinc.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding TruPet’s plans to expand its business and goals. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Important factors that could cause actual results to differ from those in the forward-looking statements include regulatory developments aimed at hemp legalization including whether President Trump will sign the Farm Bill or it otherwise becomes law, and the Company’s inability to control TruPet and its management, which makes it reliant on others. Further information on our risk factors is contained in our filings with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Sport Endurance, Inc.
David Lelong, President and CEO