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DENVER, Jan. 14, 2019 /CNW/ – Dixie Brands Inc. (“Dixie” or “the Company”) (CSE: DIXI.U), one of the cannabis industry’s leading consumer packaged goods (“CPG”) companies, has announced new leadership and priorities for its pet wellness company Therabis. Dixie has hired specialty pet food and CPG veteran Bob Rubin as the first President of Therabis with the objective of significantly growing the brand’s retail presence and sales.
“Therabis has tremendous potential as a product that can improve the quality of life for the pets which so many of us consider to be part of our families,” said Chuck Smith, President and CEO, Dixie Brands. “We are very pleased to continue the national roll-out of the brand under Bob Rubin’s leadership. Therabis is positioned for accelerated growth in 2019 as we broaden its distribution and continue to innovate with the introduction of feline and equine products, as well as ongoing additions to our existing canine line.”
In his role at Therabis, Mr. Rubin will be responsible for executing on the compelling opportunities available to the brand as an early mover in the growing hemp-infused pet supplement category. Therabis plans to significantly expand its “bricks and mortar” presence in 2019 to complement its successful e-commerce platform, www.therabis.com. Therabis recently signed an agreement with Central Garden & Pet, a distributor with access to thousands of retail locations nationwide, and is targeting additional retail relationships.
“I am incredibly excited to join the Therabis team,” said Mr. Rubin. “As an executive in the pet food industry, I have followed the hemp-infused category with great interest. I believe that Therabis’ formulas, developed by veterinarian Dr. Steven Katz, are the best and most effective in the market today.”
Mr. Rubin has over 10 years of experience in the pet food industry. As CEO and President of natural and holistic pet food company Solid Gold Pet since 2015, he repositioned the brand and led the expansion of its distribution to the world’s largest pet specialty retailer as well as its successful entry into the Chinese market. As Chief Financial Officer and Chief Strategy Officer of Nature’s Variety, he helped quadruple annual sales to more than $100 million, driven by the repositioning of the Instinct® pet food brand. From 2006 to 2012, Mr. Rubin was a partner in two private equity firms where he developed and implemented optimization strategies for portfolio companies in the consumer sector. He previously spent 10 years in senior marketing, corporate development and general management roles at Spectrum Brands, a consumer products company known for such brands as Spectracide®, Cutter® and Nature’s Miracle®.
Therabis currently offers a line of canine products in the hemp-infused pet supplement category. Hemp contains naturally occurring molecules, including cannabidiol (“CBD”) and other cannabinoids, which research has shown to provide health and wellness benefits to humans and animals.
Dixie Increases its Ownership in Therabis
Dixie Brands also announced that it has purchased the 25% stake in Therabis held by one of its minority partners, “Rose Capital Fund I, LP and affiliates” (“Rose Capital”). With the purchase, Dixie Brands solidifies its ownership of this strategic business unit to an 85% share. As an original investor in Therabis in 2016, Rose Capital had achieved its investment objectives and executed a strategic exit. The remaining shareholder is Therabis co-founder Dr. Stephen M. Katz, whose proprietary formulations are backed by over a decade of research and refinement in his own veterinary practice