Daily Newsletter

03 October 2023

Daily Newsletter

03 October 2023

Voff Premium Pet Food picks up Dutch brand Carnibest

The natural raw pet-food maker is Voff's tenth acquisition since inception.

Henry Mathieu

Voff Premium Pet Food has scooped up Netherlands-based dog and cat food manufacturer Carnibest for an undisclosed sum.

Based in Sweden, private-equity backed Voff has marked its tenth acquisition since its inception in 2014 with the deal for the natural raw pet-food maker.

Founded in 2001, Carnibest is also the second Dutch brand to join Voff’s portfolio, after Energique was snapped up earlier this year.

Voff has gained Carnibest's production site in Ermelo in the province of Gelderland, taking the Stockholm-headquartered company's manufacturing facilities to nine.

Carnibest makes natural raw dog and cat food – both meals and snacks – that are currently sold in the Netherlands and Belgium.

The Dutch brand has around 20 employees who will all continue to work at the company.

However, as part of the acquisition, previous Carnibest owner Corine Bunschoten has chosen to leave the organisation and pursue other opportunities.

She said: “Carnibest has been synonymous with premium quality raw dog and cat food for over two decades, and it has been a pleasure to be able to build this great company.

“I trust that Voff, a fellow believer in natural, premium pet-food products, will build on and expand the Carnibest brand, in addition to serving our customers even better.”

Anders Kristiansen, CEO of Voff Premium Pet Food, said: “It is truly exciting to welcome Carnibest to the Voff group. We have been following Carnibest for a long time and are certain that we can jointly continue the success story that Carnibest has been since its inception.”

Kristiansen was appointed chief executive of the pet-food business in March and immediately suggested that M&A would form a significant part of his growth strategy. Leo & Wolf is Voff’s only in-house brand with the remainder of the portfolio inherited through acquisitions.

The business generates annual revenue of Skr1.1bn ($99.2m) and employs around 300 staff.

Food industry in Eastern Europe is highly fragmented

Per GlobalData estimates, the Eastern European food industry was valued at $180.5 billion in 2022 and is projected to grow at a CAGR of >4% by 2027. The top five companies together account for a value share of just 5.3% in 2022, with Mondelēz leading the pack. The Czech Republic, Poland, Romania, and Hungary were identified as high-potential countries, primarily due to the large size of their food industries, their high projected value growth rates, and their rising per capita expenditure.

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