| IPO Company Profile |
| SEC Filings | Peer IPO Companies |
| Doane Pet Care Enterprises, Inc. |
| 103 Powell Court, Suite 200, Brentwood, TN 37027 * (615) 373-7774 |
| The Company is the largest manufacturer of dry pet food in the United States, producing approximately 26% of the total volumes sold in 1997 on a pro forma basis. |
| Manager | Tier | Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 371-0641 |
| Chase Securities, Inc. | Co-manager | (212) 834-4533 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Schroder Wertheim & Company, Incorporated | Co-manager | (212) 492-6900 |
| Employees: | 2330 | Manufacturing: | SIC 2047 | |
| Type of Shares: | Class A Common Shares | Filing Date: | 8/7/98 | |
| U.S. Shares Filed: | 16,666,668 | Filing Range: | $11.00 - $13.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $200,000,016 | |
| Primary Shares: | 12,500,000 | Expenses: | - | |
| Secondary Shares: | 4,166,668 | Post-IPO Shares: | 30,909,840 |
| Issuer's Law Firm: | Vinson & Elkins |
| Bank's Law Firm: | Andrews & Kurth |
| Auditor: | KPMG Peat Marwick |
Dollar amounts in U.S. millions except for per share data | |||||
| 3 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 12/31/97 | 3/31/98 | 3/31/97 | 3/31/98 | ||
| Revenue: | $564.74 | $144.50 | $141.74 | Assets: | $333.73 |
| Net Income: | $6.23 | $3.28 | $1.00 | Curr Assets: | $97.61 |
| EPS: | Liabilities: | $297.99 | |||
| Prior EPS: | Curr Liab: | $60.41 | |||
| Cash Flow/Oper: | $20.97 | $3.36 | -$6.84 | Equity: | $35.74 |
| Cash Flow/Fin: | -$5.81 | $6.79 | $12.79 | Cash: | $0.00 |
| Cash Flow/Inv: | -$15.16 | $3.43 | -$5.95 | Working Cap: | $37.20 |
| Competition |
| The pet food industry is highly competitive. The companies that produce and market the major national branded pet foods are national or international conglomerates that are substantially larger than the Company and possess significantly greater financial and marketing resources than the Company. The store brand pet food products sold by the Company's customers compete for access to shelf space with national branded products on the basis of quality and price. National branded products compete principally through advertising to create brand awareness and loyalty, and, increasingly, on price. The Company experiences price competition from national branded manufacturers. To the extent that there is significant price competition from the national branded manufacturers or such manufacturers significantly increase their presence in the store brand market, the Company's operating results and cash flow could be adversely affected. The Company also competes with regional branded manufacturers and other store brand manufacturers. |
| Business Plan |
| The Company's business objective is to increase revenues and earnings and to enhance its leadership position within the pet food industry. The key elements of the strategy to achieve the Company's business objective are as follows: (1) Continue to be the Low Cost Quality Provider in the Pet Food Industry; (2) Leverage Distribution System; (3) Provide a Full Range of Pet Food Products; (4) Focus on Diversified Brand Formats; (5) Acquire Additional Pet Food Companies and (6) Expand International Presence. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay debt and repurchase outstanding preferred shares. |
| Name of Shareholder | % Owned Before | % Owned After |
| DLJ Merchant Banking, Inc. | 0.20 | |
| CMIHI | 0.19 | |
| Laura Hawkins Mansur | 0.18 | |
| BRS | 0.16 | |
| Summit/DPC Partners, L.P. | 0.16 | |
| Dartford | 0.13 |
| Officer Name | Title | Age |
| George B. Kelly | Chairman of the Board and Director | 49 |
| Douglas J. Cahill | Chief Executive Officer, President and Director | 38 |
| Thomas R. Heidenthal | Senior Vice President and Chief Financial Officer | 47 |