The new owners will continue the “buy one, give one” model, said Kavanaugh, FreeHand's chairman and senior adviser.
“Millions of dogs are needlessly killed each year because municipal shelters and rescues can’t afford to feed them, and FreeHand solves this,” said Kavanaugh, CEO of the entertainment company Relativity Media. “My wife, Britta, and I are proud to be a part of what we call an ‘ecosystem for good.’”
Terms of the transaction were not disclosed.
Los Angeles-based FreeHand was co-founded by Tom Bagamane, who also founded Integrated Pet Solutions and is a former director at The Kong Co. Bagamane will stay on as managing director of FreeHand.
FreeHand manufactures four holistic, dry dog foods. With each bag sold, an equal amount of food is given to a local rescue organization or shelter.
The company has given more than 16,000 pounds, or 46,000 meals, to U.S. shelter dogs since the program's inception.
“We have tremendous momentum in building our brand in the first six months since our product launch," Bagamane said. "This is certain to increase with the acquisition of the company, with Ryan as one of the country’s most dynamic and successful businessmen along with Britta’s huge heart and passion for abandoned and abused animals.”
FreeHand is sold online and at stores and veterinary clinics in Southern California, Las Vegas, Indianapolis and Dallas-Fort Worth.
Consumers purchasing the food online may select from a list of preapproved rescues and shelters for the donation.