Freshpet, Inc. Closes Its Initial Public Offering

November 13, 2014

SECAUCUS, N.J., Nov. 13, 2014 (GLOBE NEWSWIRE) -- Freshpet, Inc. ("Freshpet" or the "Company") (Nasdaq:FRPT) today announced the closing of its initial public offering of 11,979,167 shares of common stock, including 1,562,500 shares of common stock issued as a result of the full exercise of the underwriters' option to purchase additional shares, at a price of $15.00 per share.

The Company received net proceeds from the offering of approximately $164.1 million, after deducting underwriting discounts and estimated offering expenses. The Company intends to use the net proceeds from the offering to repay existing indebtedness, and to support the future growth and development of the business.

Goldman, Sachs & Co. and Credit Suisse are acting as joint book-running managers for the offering. Baird, Stifel, SunTrust Robinson Humphrey and Canaccord Genuity are acting as co-managers for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on November 6, 2014. The final prospectus relating to the offering has been filed with the Securities and Exchange Commission and copies may be obtained by request from: Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, phone: 866-471-2526, email: prospectus-ny@ny.email.gs.com; or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, phone: 800-221-1037, email: newyork.prospectus@credit-suisse.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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About Freshpet

Freshpet is a group of pet experts, nutritionists, and pet lovers dedicated to feeding pets the goodness of real, fresh food. Headquartered in Secaucus, New Jersey, Freshpet is the only U.S. manufacturer and marketer of fresh, refrigerated food for dogs and cats. Freshpet brands include Freshpet Select available at select grocery and mass market retailers, Deli Fresh and Vital available at select pet specialty stores, and Veterinary Nutrition available at select veterinarians.

In addition to its line of fresh ready to eat meals, Freshpet makes the first fresh refrigerated treats. Freshpet was founded in 2006 with a mission to elevate pets lives through fresh healthy and nutritious foods. Freshpet has grown to employ over 80 people around the country since 2006 with each employee having ownership. Additional information about Freshpet products, including a store locator, is available at www.freshpet.com.

About MidOcean Partners

MidOcean Partners is a premier New York-based alternative asset manager that specializes in middle market private equity and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has managed over $4.5 billion of committed capital and has targeted investments in high-quality middle market companies in the consumer and business services sectors. MidOcean Credit Partners was launched in 2009 and manages approximately $8 billion across a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts as of November 30, 2018

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