British petfood giant in talks for new acquisition
Capvest, the owner of Inspired Pet Nutrition (IPN), is reportedly in discussions to acquire Butchers Petcare, one of the UK’s largest independent petfood producers. According to sources, other bidders have also expressed interest in the company, but IPN is seen as the frontrunner due to its significant presence in the UK petfood market.
IPN currently owns several prominent petfood brands, including Wagg and Harringtons. In addition, TDR Capital, a private equity firm, recently acquired Jollyes, a major petfood retailer. With this potential acquisition, IPN is poised to further solidify its position as a leading player in the industry.
Butchers Petcare was founded in 1987 by Graham Baker, the son of a livestock farmer. Over the years, the company has experienced steady growth in sales and profits, fueled by the rising demand for premium petfood products. Its value in a potential sale to IPN or another bidder has not been disclosed at this time.
The company produces hundreds of millions of cans of dog and cat food annually, making it a highly sought-after asset in the petfood market. In 2018, Butchers secured a £43m funding package from lenders such as Secure Trust Bank to support its expansion efforts.
The auction for Butchers Petcare is being managed by bankers at Houlihan Lokey. Neither IPN nor Capvest have commented on the potential acquisition. As negotiations continue, the future of Butchers Petcare remains to be seen.
