Inspired Pet Nutrition (IPN) has completed the acquisition of Butcher’s Pet Care for £43 million (US$55.8 million).
Founded in 1983, Butcher’s specializes in natural pet food for dogs and cats, with its products sold across major UK retailers and globally. Butcher’s brands include: Butcher’s dog food, affordable high-quality, naturally nourishing food for dogs; Blink!, a premium natural wet cat food brand; and Classic, an affordable, natural, complete cat food brand. The company also manufactures own-label pet food for a range of customers, including multiples and specialist pet shops, and holds an established position in Poland. Butcher’s operates a 385,000-square-foot manufacturing and distribution facility located in Crick, Northamptonshire.
In early 2022, the company faced significant inflationary pressures due to the war in Ukraine, while simultaneously working on a strategic growth plan that included a full brand refresh. To navigate market volatility and ensure successful execution of its business strategy, Butcher’s refinanced its existing facilities with a more flexible funding package to provide financial stability.
The company secured a combined funding package from Blazehill Capital and Secure Trust Bank Commercial Finance (STB), which included an STB working capital facility and a non-amortizing term loan from Blazehill Capital. With this financial support, the business flourished, eventually leading to the sale to IPN.
Headquartered in Thirsk, North Yorkshire, IPN is best known for its natural dog meals and pet treats under the Harringtons and Wagg brands. In 2020, the company was acquired by international investment firm and buy-and-build specialist CapVest, which subsequently acquired Pet Food UK, which offers branded premium dog and cat pet food brands Barking Heads and Meowing Heads, in 2021.
The acquisition creates a petfood group with sales of more than £350 million (US$454.5 million) and allows Butcher’s to continue focusing on its strategic growth ambitions.
In August it was reported IPN will appoint Arthur van Benthem as CEO of the group, which will have combined gross sales of approximately £350 million (US$454.5 million). Van Benthem will lead IPN’s growth strategy and has extensive experience working with management teams and private equity owners to grow and develop international businesses. With a background in sales and marketing, he has held executive leadership roles across several markets in EMEA, U.S. and the Asia/Pacific region.
“This acquisition marks an exciting milestone in the Butcher’s journey,” said former Butcher’s Pet Care CEO Tim Watsham, “We’re all excited for what is next as we enter a new chapter and would like to thank the Blazehill and STB teams for their patient and pragmatic approach throughout.”
According to Petfood Industry’s Top Companies, Inspired Pet Nutrition (formerly Wagg Foods) is the U.K.’s largest independent producer of dry pet food. Butcher’s Pet Care specializes in natural, wet pet food that is free of cereal, soya and gluten, and contains no artificial coloring, flavoring or preservatives. It claims to be the third-largest pet food manufacturer in the UK.
Adapted from a press release.