Muenster, Texas . – November 15, 2023 — Muenster Milling Company (“Muenster”), a manufacturer of freeze-dried and extruded pet food sold under its brand as well as for other well-known pet food brands, today announced the appointment of Jim Holdrieth as President and CEO. Most recently, Mr. Holdrieth served as CEO of Florida Food Products (“FFP”), a formulator and manufacturer of natural and clean label ingredients for the food, beverage, sports and pet nutrition industries.

Muenster is a portfolio company of Kainos Capital, a consumer-focused private equity firm that invests in strategically relevant companies in the food, pet, consumer products and services sectors. FFP is a former portfolio company of Kainos.

Mr. Holdrieth is a veteran food ingredient executive with over 30 years of manufacturing experience. During his tenure at FFP, he successfully expanded manufacturing operations and commercialized new technologies that enabled customers to launch innovative products. Previously, Mr. Holdrieth led the North American Food Ingredients business of Balchem, including its Sensory Effects division.

Fourth-generation Muenster family owners Mitch and Chad Felderhoff said, “We could not be happier to welcome Jim Holdrieth into the Muenster family. We are confident that Jim will build on Muenster’s commitment to excellence in pet food manufacturing, including food safety, innovation, and exceeding customer expectations.”

“We have a long history with Jim, who oversaw transformational growth at our investment in Florida Food Products,” said Kevin Elliott, Partner at Kainos Capital. “He is the right leader for Muenster at this time as we dramatically scale the company’s manufacturing and new product development capabilities.”

“Muenster is well recognized as an innovative partner to the leading brands in the pet food market,” said Jeff Moredock, Principal at Kainos Capital. “Jim’s unwavering commitment to customer service and his process-driven approach to commercializing innovative food manufacturing technologies will enable Muenster to play a pivotal role in helping these brands meet the growing consumer demand for freeze-dried pet food.”

Mr. Holdrieth said, “The Felderhoff family has built a terrific pet food business with attractive growth potential as consumers move toward ‘better for my pet’ meals and treats. I am especially excited about the company’s new freeze-dried manufacturing facility that is vertically integrated with a full suite of packaging solutions for customers, as my background in food ingredient manufacturing gives me an appreciation for how freeze-dried proteins can play a strategic role for customers given its versatility and nutritional benefits. I am excited to continue Muenster’s 92-year legacy while leading its transformation into a market leader within the freeze-dried category.”

About Muenster Milling Company

Founded in 1932, Muenster Milling is a manufacturer and marketer of freeze-dried and extruded pet food and inclusions. The company provides contract manufacturing and private label solutions for leading brands and retailers and also sells its products under its own Muenster brand which is sold in pet specialty and e-commerce channels. The company also provides a customized kibble offering that can be formulated by customers. All of the Muenster branded products can be found on its website www.muenstermilling.com.

About Kainos Capital

Kainos Capital is a middle-market private equity firm with a focus on the food, pet, consumer products and services sectors. The Kainos team has extensive investment and operating experience in the industry, having invested approximately $3 billion of equity in more than 40 transactions with a total transaction value of over $6 billion. The Firm’s strategy is to build a diversified portfolio of growing and strategically relevant food and consumer businesses.

For more information, visit Kainos Capital’s website at www.kainoscapital.com.