Investor-backed Inspired Pet Nutrition (IPN) has confirmed it has acquired fellow UK business Butcher’s Pet Care.
Majority-owned by private-equity firm CapVest Partners since 2020, IPN said its latest pet-food deal will give the company combined sales of around £350m ($459.2m), although the price of the investment has not been disclosed.
Based in the village of Crick in England’s Northamptonshire region, Butcher’s Pet Care was set up in 1983 and supplies wet foods for cats and dogs. It produces three brands: Butcher’s, Blink and Classic.
Operating out of a 385,000-square-foot manufacturing site in Crick, the company also serves the private-label channel in UK retail, while its products are also sold in Poland.
Meanwhile, Arthur van Benthem has been appointed as IPN’s CEO, who will oversee the entire pet-food portfolio.
The new IPN CEO has a background in sales and marketing and has held executive roles with the likes of Unilever, The Coca-Cola Co., FrieslandCampina and Imperial Brands.
Family-founded IPN, which counts Harringtons and Wagg among its own stable of brands, had been active in M&A before and after the investment from CapVest. In 2021, the Yorkshire-based business bought Pet Food UK and the Real Pet Food Company in 2007.
CapVest beat off ambitions from UK-based meat company Cranswick to buy IPN in 2020, acquiring the business from private-equity peer L Catterton.
Van Benthem said: “Butcher’s brand portfolio and business is highly complementary to IPN and consistent with our vision and strategy to expand the business and create a portfolio of natural, wet and dry pet-food brands with superior nutrition, which is affordable and accessible to all pet owners.
“Strategically, it also provides us with an established platform and opportunity to expand our presence in the growing European pet-food market.”
Kate Briant, a senior partner at CapVest, added: “Butcher’s is a great addition to the IPN platform, creating a business of greater scale and presence across a range of categories, channels and customer segments.
“It also creates a solid platform to pursue further organic and acquisition-led growth with a particular focus on Europe and we are delighted to have a CEO of Arthur van Benthem’s calibre ready to lead this plan with his extensive brand, financial, strategy and leadership experience.
The management team at Butcher’s Pet Care, including CEO Tim Watsham, will remain in place after the completion of the deal, which is expected in the fourth quarter.
Just Food asked IPN and CapVest for confirmation on what role he will now play and for details on the markets currently served by the wider group.
Watsham will remain CEO, while van Benthem will oversee the group pet-food business a spokesperson said, adding that IPN will now have four production plants - three in the UK and one in Poland.
Watsham said: "Joining forces with IPN and CapVest is a fantastic opportunity for Butcher’s. We look forward to leveraging IPN and CapVest’s resources and expertise to pursue our growth ambitions and continue delivering high-quality products to our customers.”
