Earlier this month, Boston-based Polkadog announced that it had been acquired by TAW Ventures, an investment firm founded by Jane Lauder, granddaughter of Estée Lauder.
For those outside the pet industry, this probably feels like a pretty straightforward business story. Founder builds successful company. Company grows. Founder exits. Everybody celebrates.
And they should.
When I think about Polkadog, I think about little star-shaped pizza treats.
We've had a relationship with Polkadog for as long as I can remember. Long before they became a nationally recognized brand, they were one of those companies you knew by the people behind it.When Cooper was a puppy, his favorite place to hang out in the old North Street storefront was directly next to the barrel that held those pizza treats. He would sit there and stare with his big puppy eyes at customers as if to say "HEY! GIMME ONE OF THOSE". Back then, we carried Polkadog biscuits in bulk and in little cello bags. Every once in a while, a shipment would arrive from Boston looking like it had lost a fight. The tiny star points would poke through the packaging and rip the bags apart before they ever made it to the Cape. I'd call Deb, explain that another case hadn't survived the trip, and she'd send replacements. Those treats disappeared years ago. The flimsy cello bags gave way to the colorful, polished packaging we all recognize today.
Many of us have had the privilege of watching the company grow from a small local business into a nationally recognized brand. They started in a city apartment kitchen. They built a loyal following. They expanded into wholesale. They opened retail stores. They created something valuable enough that an investment firm wanted to be part of its future.
That's no small accomplishment.
As a small business owner, that's the dream! I firmly believe founders deserve an exit plan. They deserve the opportunity to realize the value they've spent years — often decades — creating. Building a business is hard. Building one that lasts is even harder. So this isn't a criticism of Deb and Rob. Quite the opposite. What they accomplished is something worth celebrating.
At the same time, retailers across the country are discussing dropping the line in favor of supporting other indies. I get that. But it still stings as I feel intuitively protective of the brand I love.
One thing that caught my attention is that, from what I can tell from stalking LinkedIn profiles, none of the new ownership team has an iota of pet industry experience. Their backgrounds are in beauty and dating apps. The Polkadog team is exceptional. They understand pet parents. They understand independent retailers. They understand sourcing, manufacturing, New England and the values that helped the company earn its reputation over the years. In many ways, the future of Polkadog may depend on how much the new ownership team relies on and learns from the people already in place.
Because when most of us think about Polkadog, we don't think about ownership structures or investment portfolios. We think about the locality of the products and the ethical sourcing. The trust that has been built over decades.
This past winter was brutal for local businesses here on Cape Cod. Between storms, closures, road construction, detours, rising costs, and a consumer who is feeling stretched in every direction, many small businesses have had to work incredibly hard just to stay afloat. As a result, I've found myself being much more intentional about where I spend my money.Not because I think large companies are inherently bad. And not because every local business is automatically good. But because I've been thinking more about the people behind the businesses I support. Small purchases can have surprisingly big ripple effects.
Which brings me back to Polkadog. Does ownership matter to you? Do you think differently about a company when it's backed by big money? Are you indifferent as long as the quality is retained? Does your trust in a brand automatically transfer ownership or does the new owner have to earn it all over again?