Impressed Pet Vitamin (IPN) has accomplished the acquisition of Butcher’s Pet Care for £43 million (US$55.8 million).
Based in 1983, Butcher’s makes a speciality of pure pet meals for canine and cats, with its merchandise bought throughout main UK retailers and globally. Butcher’s manufacturers embrace: Butcher’s pet food, reasonably priced high-quality, naturally nourishing meals for canine; Blink!, a premium pure moist cat meals model; and Basic, an reasonably priced, pure, full cat meals model. The corporate additionally manufactures own-label pet meals for a variety of consumers, together with multiples and specialist pet retailers, and holds a longtime place in Poland. Butcher’s operates a 385,000-square-foot manufacturing and distribution facility situated in Crick, Northamptonshire.
In early 2022, the corporate confronted vital inflationary pressures because of the battle in Ukraine, whereas concurrently engaged on a strategic progress plan that included a full model refresh. To navigate market volatility and guarantee profitable execution of its enterprise technique, Butcher’s refinanced its current services with a extra versatile funding package deal to offer monetary stability.
The corporate secured a mixed funding package deal from Blazehill Capital and Safe Belief Financial institution Business Finance (STB), which included an STB working capital facility and a non-amortizing time period mortgage from Blazehill Capital. With this monetary assist, the enterprise flourished, ultimately resulting in the sale to IPN.
Headquartered in Thirsk, North Yorkshire, IPN is finest identified for its pure canine meals and pet treats beneath the Harringtons and Wagg manufacturers. In 2020, the corporate was acquired by worldwide funding agency and buy-and-build specialist CapVest, which subsequently acquired Pet Meals UK, which provides branded premium canine and cat pet meals manufacturers Barking Heads and Meowing Heads, in 2021.
The acquisition creates a petfood group with gross sales of greater than £350 million (US$454.5 million) and permits Butcher’s to proceed specializing in its strategic progress ambitions.
In August it was reported IPN will appoint Arthur van Benthem as CEO of the group, which may have mixed product sales of roughly £350 million (US$454.5 million). Van Benthem will lead IPN’s progress technique and has in depth expertise working with administration groups and personal fairness homeowners to develop and develop worldwide companies. With a background in gross sales and advertising, he has held government management roles throughout a number of markets in EMEA, U.S. and the Asia/Pacific area.
“This acquisition marks an thrilling milestone within the Butcher’s journey,” mentioned former Butcher’s Pet Care CEO Tim Watsham, “We’re all excited for what’s subsequent as we enter a brand new chapter and wish to thank the Blazehill and STB groups for his or her affected person and pragmatic method all through.”
In keeping with Petfood Trade’s Prime Corporations, Impressed Pet Vitamin (previously Wagg Meals) is the U.Ok.’s largest unbiased producer of dry pet meals. Butcher’s Pet Care makes a speciality of pure, moist pet meals that is freed from cereal, soya and gluten, and accommodates no synthetic coloring, flavoring or preservatives. It claims to be the third-largest pet meals producer within the UK.
Tailored from a press launch.
