Bansk Group has agreed to acquire Woodstream from Vestar Capital Partners for an undisclosed price.
The transaction, announced Monday, is expected to close by the end of 2020.
Lancaster-based Woodstream makes branded pest and animal control products as well as lawn and garden products. The company, which has a plant in Lititz, moved its headquarters last year from there to downtown Lancaster, leasing 47,000 square feet of space at 29 E. King St. that it spent $3 million to renovate, furnish and equip.
Woodstream products include Victor mouse and rat traps, Terro liquid ant bait, Dynatrap, Perky-pet bird feeders, and Zareba and Fi-Shock electronic animal and hobby farming fencing. Woodstream had been a portfolio company of Vestar Capital Partners since 2015.
In an announcement of the sale, Vestar said it increased Woodstream’s focus on the pest and animal control segment of its portfolio, divested and discontinued some assets and acquired DynaTrap, a provider of flying insect traps.
Miguel Nistal, Woodstream’s chief executive officer, in a prepared statement said he expects strong growth under the new owners.
"Woodstream has achieved double-digit growth in sales and has become a more strategic, consumer-driven organization over the last five years with Vestar's support, but there's still more to be done," he said. “It's an exciting time at Woodstream, and we look forward to our next chapter under Bansk's ownership."
Brian O’Connor, senior partner and chief investment officer at Bansk, was optimistic about Woodstream’s future.
"We view Woodstream as an attractive long term platform in the growing and on-trend pest and animal control category. We look forward to working with Miguel and the management team to accelerate the investment behind the business to take advantage of the compelling market opportunity,” O’Connor said in a prepared statement.
Based in New York, Bansk is a middle-market private investment group currently managing $1.5 billion in capital. It invests in a range of private and public companies. Bansk was founded this year by Bart Becht, a Dutch businessman who is the former CEO of Reckitt Benckiser, a British consumer goods company.
In addition to a plant in Lititz, Woodstream also has a manufacturing operation in Knoxville, Tennessee.
Woodstream’s roots in Lititz date to 1890, when the J.M. Mast Co. rodent-trap company was established. It was later renamed the Animal Trap Co. of America in the 1920s and Woodstream in the 1960s.
Woodstream has 400 employees in Lancaster County, including 150 at its downtown Lancaster headquarters.