Scholtus Group Holding B.V., a supplier of dog and cat treats in Europe, was acquired by Global Pet Products Holding (GPP), a investment firm active in the pet industry and ING Corporate lnvestments B.V., a 100 percent subsidiary of ING Bank N.V., reported GlobalPETS.
GPP and ING acquired all the shares in Scholtus. Jan Smulders, one of the owners of GPP, will remain to be the general manager of Scholtus.
Since 2007, Scholtus has more than tripled its revenues through autonomous growth, according to the company. In addition to this Scholtus accelerated its growth via the 2011 acquisition of Proline Petfood, a leading supplier of snacks and treats. In 2013 GPP joined Scholtus as shareholder and over the last years Scholtus invested heavily in the extension of the production capacity ending with the upgrading of the IT systems which was finished last year.
The acquisition of Scholtus by GPP and ING Cl significantly strengthens the business and facilitates the next stage expansion of the firm by stepping up the pace for new product concept introductions and accelerating the expansion in new distribution channels, according to the company.
Founded in 1987, Scholtus works with retailers to attract and retain consumers with a unique offering in pet snacks and treats. Scholtus offers customized solutions, not only in packaging but also in product composition and appearance, to help retailers differentiate from their competition. In the meantime, Boxby developed as a brand in the pet specialty channel in Europe.
Scholtus currently employs 100 people in the central part of the Netherlands.
While cat trends continue, the pandemic has added to overall slow-growth treatment of the cat food market.
Premiumization and humanization, as well as automation, fueled continued operation growth in spite of the COVID-19 pandemic.