Better Choice Company Initiates Legal Action Against Alphia, a Portfolio Company of Private Equity Firm PAI
NEW YORK, March 26, 2024 (GLOBE NEWSWIRE) -- Better Choice Company, Inc. (NYSE: BTTR) (“Better Choice” or the “Company”), a pet health and wellness company, initiated a legal action to enforce a right of first refusal (“ROFR”) option exercised by Alphia, Inc. (“Alphia”) BL4424547, which is controlled by a Paris-based private equity firm, PAI Partners ( https://www.paipartners.com ).
- NEW YORK, March 26, 2024 (GLOBE NEWSWIRE) -- Better Choice Company, Inc. (NYSE: BTTR) (“Better Choice” or the “Company”), a pet health and wellness company, initiated a legal action to enforce a right of first refusal (“ROFR”) option exercised by Alphia, Inc. (“Alphia”) BL4424547, which is controlled by a Paris-based private equity firm, PAI Partners ( https://www.paipartners.com ).
- Pursuant to the terms of a written agreement between Alphia and the Company, Alphia is obligated to acquire the assets of Halo, Purely for Pets, Inc., a wholly owned subsidiary of Better Choice.
- Better Choice seeks to compel the closing of the asset sale and, in the alternative, monetary damages in excess of $19 million caused by Alphia for its misconduct in connection with the ROFR.
- The claim has been filed in the Circuit Court of the 13th Judicial Circuit in and for Hillsborough County, Florida.