Adapted from a press release:
Scandanavian private equity fund, Axcel, signed an agreement to acquire Voff Premium Pet Food, a European maker of natural premium pet food headquartered in Stockholm, Sweden.
Voff Pet Food’s current owners are Systematic Growth. Voff is a European producer in the premium natural pet food segment, comprising nine brands across eight business units. Founded in 2014, Voff generates approximately SEK1 billion (US$ 95 million) in turnover, with a differentiated multichannel strategy delivering a strong balance across B2B and DTC channels.
In February, Voff acquired Aristo Oy, a Finnish manufacturer of natural chews and treats with sales spanning across Scandanavia. Aristo Oy produced natural chewing bones, sold under the brand RAUH! The Aristo Oy acquisition was the seventh Voff did since its founding in 2014, and the second in Finland.
Voff was founded in 2014. The pet food company now consists of nine main brands that are produced and sold across Europe. Voff sells natural, premium pet food products from raw pet food (BARF) to natural air-dried treats, natural pet supplements, chews and high-quality bird food. Voff brands sell across various channels, online and offline. Voff is headquartered in Stockholm, Sweden.
Axcel focuses on leading Nordic companies in the consumer, technology, industrials, business services and healthcare sectors. Over the last 25 years, Axcel has raised six funds with cumulative capital commitments of EUR 2.8 billion. These funds have made 68 platform investments, with more than 150 add-on investments and 49 exits.
Systematic Growth was founded by serial entrepreneur Ashkan Pouya and partners, with the vision to build globally leading companies in a systematic manner within selected sectors.
Quotes from pet food industry professionals
“We look forward to partnering with Axcel and further advancing our position as the leading European platform for premium natural pet food,” Mårten Bernow, CEO of Voff Premium Pet Food, said in a press release. “Together, we will continue our ambitious growth strategy and European expansion through strategic acquisitions as well as driving organic growth through a unique combination of strong customer relationships, a compelling D2C offering and proven product development. I’d like to thank Systematic Growth for their valuable support, dedication and close cooperation with the Voff team over the years, which has been critical for developing the business and establishing our market-leading position today.”
“The Voff team has built a very impressive business with strong market positions in Germany, the UK and the Nordics within the fast-growing premium natural pet food segment,” Asbjørn Hyldgaard, partner at Axcel and responsible for the investment, said. “Voff is an exciting opportunity for Axcel to leverage our experience within the pet and consumer sectors. Mårten and the wider management team have a clear vision to further advance their leadership position in Europe by continuing Voff’s impressive growth journey in current and new
markets.”
“It has been a remarkable journey with Voff since we founded the business in 2014,” Ashkan Pouya, chairman of Systematic Growth, said. “We would like to extend our appreciation to the entire Voff team for their hard work and dedication in building a leading European platform. We are extremely proud of the company that we have built together.”
