The OurPet’s Company (OurPet’s) develops and markets products for improving the health, safety, comfort, and enjoyment of pets. The products sold have increased from the initial “Big Dog Feeder” to approximately 800 products for dogs and cats, as well as a small number of wild bird feeders. Sold globally, the company’s products are marketed under the brand names – OurPets® for the Pet Specialty channel, Pet Zone® for food, drug and mass chains and Petastic® for the value channel. The Company’s sub-brands Play-N-Squeak™, Cosmic Catnip™, Go! Cat! Go!®, Durapet ™, SmartScoop™ and Flappy™ have become well known in the pet industry.In total, OurPet’s has an intellectual property portfolio featuring more than 160 individual patents, giving the company sustainable access to the pet products industry for the foreseeable future.
Our management originally founded Napro, Inc. (“Napro”), an Ohio corporation, in 1985 as an enterprise for launching new ventures and acquiring companies in various lines of business. In 1996, Napro formed a wholly owned Ohio subsidiary, Virtu Company (“Virtu”), to market proprietary products to the retail pet business under the OurPets® label. Napro changed its name to OurPet’s Company effective March 19, 1998. In January 2006, OurPet’s purchased substantially all the assets of Pet Zone, a competitor that manufactured and distributed cat, dog and bird feeders, storage bins, and cat and dog toys to the pet specialty, mass retailers and grocery chains. In July 2010, OurPet’s purchased substantially all the assets of Cosmic Pet Products, a leading provider of catnip products, cat toys and other cat products such as scratchers and cat treats.
OurPet’s expects to continue this trend of growing through both new product development and strategic acquisitions in the coming years. Our mission is “To exceed pet and pet parent expectations with innovative solutions.”
- Consolidated net revenue for 2014 was $22,770,562, an increase of approximately 5.6% in revenue from $21,554,106 in 2013. The largest revenue dollar growth came from sales to national chain customers, which increased by approximately $694,000 from 2013 to 2014, followed by sales to distributors, which grew by approximately $583,000 during the same time period. Net income decreased by $301,720, from $1,070,995 in 2013 to $769,275 in 2014.
- Product Offerings: OurPet’s offers approximately 1,000 exciting proprietary products specifically related to healthy feeding systems, interactive toys, healthy consumables, and cat and dog maintenance products. OurPet’s has been granted 82 U.S. and international patents and an additional 62 are pending. OurPet’s has also obtained 59 trademarks and has another 7 pending. Through its product development efforts, OurPet’s hopes to introduce new, exciting products each year.
- Marketing Channels: OurPet’s has built an extensive domestic and international marketing network that allows a growing number of products to be sold at continually improving economies of scale. The company’s products are marketed through pet specialty distributors and retail chains such as PetSmart and Petco, grocery chains such as Kroger and Publix, mass retailers such as Wal-Mart and Kmart, catalogs such as Drs. Foster & Smith, and E-commerce websites. Overseas sales in the United Kingdom, Japan, Canada, Australia, etc. are through local, independent representatives/distributors.
- Informational Systems and Controls: Information systems have been implemented and EDI capabilities have been established with key accounts. This is very important as major retailers are quickly moving toward paperless transactions – from order placement and confirmation to invoice payment.
- The OurPet’s Team currently consists of 48 full-time employees. The company’s President and Founder, Dr. Steven Tsengas, BS Engineering, MS Business/Behavioral Sciences, Ph.D. Natural Health/Nutrition, has successfully launched over half a dozen companies. Dr. Tsengas has extensive technical knowledge related to pet nutrition, behavior and geriatrics as well as advanced materials and manufacturing processes. OurPet's has a well-balanced, professional team in terms of skills and experience; e.g. marketing and sales, finance, product development and manufacturing/distribution.
In order to effectively handle the anticipated rapid revenue growth and achieve consistent profitability and high return-on-investment (ROI), OurPet’s dynamic organization focuses on product development, marketing and distribution and subcontracts its manufacturing operation and various other activities to strategic partners throughout the world. This strategy allows OurPet’s to focus on solving problems and taking timely advantage of opportunities without developing "tunnel vision." OurPet’s makes best use of expertise available throughout the world and realizes a higher ROI by making a concerted effort to not commit its limited financial resources to purchasing buildings and other capital equipment with long payback periods.