LCN Capital Partners acquires pet food manufacturer Stella & Chewy’s mission-critical headquarters facility in Oak Creek, Wisconsin

The property serves as the sole food production, warehouse and headquarters facilities for Stella & Chewy’s, one of the fastest-growing manufacturers of premium pet food and pet products in the United States.

New York – June 1, 2020 – LCN Capital Partners (“LCN”), a private real estate investment firm and a recognized leader in the primary corporate sale-leaseback and build-to-suit markets, today announced that it has completed its acquisition of Stella & Chewy’s mission-critical headquarters facility.

Stella & Chewy’s is a premium pet food manufacturer that competes across all major pet food categories, producing a wide array of products including freeze-dried food, baked kibble, wet food, treats, and supplements. The company’s headquarters also contains a cold storage facility, which houses Stella & Chewy’s main pet-food production, warehouse, and distribution space.

The property will be leased to Stella & Chewy’s for a period of 20 years. Totalling more than 160,000 sq. ft., the property houses over 129,000 sq. ft. worth of cold storage space. LCN is currently working with Stella & Chewy’s to complete a 145,000 sq. ft. expansion on the facility, to include more food production and freezer space. The facility is located in the “OakView Business Park”, a brand new 220-acre development, with neighbouring tenants that include FedEx, GE Healthcare, and Yaskawa Electric Corporation.

Edward LaPuma, co-founder of LCN Capital Partners, said: “We are thrilled to be working with Stella & Chewy’s to grow their business and meet the incredible market demand for best-in-class pet-food products. This high-quality cold storage facility will nicely complement LCN’s existing portfolio of long-term leased, mission-critical corporate real estate. We are honored to partner with such a dynamic and successful company, and to play a supporting role in their continued growth.”

Tom Wall, Director of Acquisitions at LCN Capital Partners, stated: “LCN secured this off-market transaction due to our emphasis on building strong tenant-client relationships and delivering on our commitment to speed, certainty, and confidentiality.  We were able to structure a bespoke sale-leaseback and build-to-suit solution that was customized to meet the specific needs of Stella & Chewy’s.  Having committed, discretionary capital, LCN closed on time and on the terms agreed, despite the high capital market volatility created by COVID-19.”

Marc Hill, Chief Executive Officer of Stella & Chewy’s, added: “It has been a pleasure to work with LCN on this sale-leaseback to free up capital tied up in our mission-critical pet-food production and headquarters campus. The proceeds from the sale-leaseback and LCN’s work funding the build-to-suit expansion of the facility will provide key support to the continued growth of our business. We look forward to a long and positive partnership with LCN.”

About Stella & Chewy’s

Founded in 2003, the company strives to provide the highest quality natural pet food with an emphasis on nutrition, palatability, safety and convenience. Stella & Chewy’s dog and cat products include frozen patties and morsels, freeze-dried dinners and meal mixers, baked kibble, stews and broths and treats. Headquartered in Oak Creek, Wisconsin, all of the company’s products are made in the United States. Stella & Chewy’s proudly created Journey Home Fund; a charity that promotes adult and senior pet adoptions. For more information, please visit

About LCN Capital Partners

Founded in 2011 by Edward V. LaPuma and Bryan York Colwell, LCN has assets under management in excess of $3.5 billion across its three US Dollar denominated funds, and three Euro denominated funds. Headquartered in New York City, LCN also has offices in London, Amsterdam, Cologne and Luxembourg.

LCN Capital Partners is a recognized leader in the primary sale-leaseback and build-to-suit markets. In these primary markets, investments and leases are originated and negotiated directly with the corporate users of mission critical real estate. LCN delivers a long-term solution for its tenant-clients by providing a non-bank capital resource, efficient monetization of on-balance sheet real estate, continued operational control of key assets, enhanced financial metrics, and potential tax benefits. LCN’s investing partners benefit from the long-term and inflation protected distributions that it supplies. For more information, please visit:

Media Contacts:

For LCN:
Kevin FitzGerald
Gasthalter & Co.
(212) 257-4170


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