Tue, 07 Dec 2021 | BUSINESS SALE
Private equity-backed pet food company Inspired Pet Nutrition (IPN) has acquired Pet Food UK (PFUK), with the move representing the start of a growth strategy through which IPN will seek to build scale and international growth.
IPN was acquired in December 2020 by private equity buy-and-build firm CapVest. The company owns two brands, Wagg and Harrington’s, which are sold throughout the United Kingdom.
PFUK produces premium pet food and treats, distributing both in the UK and internationally, with its brands including Barking Heads, Meowing Heads, Bailey Bites and its “uber-premium” AATU range. IPN will acquire the company from its founders and previous owner Piper Investment.
Founded in 2009, PFUK’s most recent accounts at Companies House, for the year ending December 31 2020, show the company generating post-tax profits of £1.17 million on turnover of £18.7 million, up from profits of £168,563 on turnover of £18.1 million a year earlier.
Commenting on the takeover, which is expected to complete in the coming weeks, IPN Chief Executive James Lawson said: "This acquisition is consistent with our vision to create a unique portfolio of loved and sustainable pet care brands helping make quality pet care affordable and accessible to all.”
"PFUK brings to IPN highly recognised super and uber-premium brands with a strong digital presence to augment our strong product portfolio and distribution channels. We are impressed by the great progress of PFUK in recent years and we look forward to welcoming the team and further supporting the company to continue to grow."
CapVest partner Kate Briant described the deal as the “first step in what we hope will be an active acquisition-led growth strategy." Briant commented: "Pet Food UK is a fantastic addition to IPN which helps broaden and supplement our offering. It adds high quality brands to the portfolio, creates access to new segments and geographies and unlocks more distribution channels to further enhance our growth prospects.”
Also see: Global and UK Food & Beverage M&A Insight - members can also access our comprehensive list of the world's leading private equity buyers of food & beverage brands.
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