Inspired Pet Nutrition (IPN), an independent UK pet food company controlled by CapVest Partners, has announced the acquisition of Butcher’s Pet Care (BPC), a manufacturer of wet pet food. Terms of the transaction are not being disclosed, but it's expected to be completed in the fourth quarter of 2024.
Based in the UK, BPC was founded in 1983 and offers wet dog and cat food products under three brands: Butcher’s dog food, affordable high-quality, naturally nourishing food for dogs; Blink!, a premium natural wet cat food brand; and Classic, an affordable, natural, complete cat food brand. The company also manufactures own-label pet food for a range of customers, including multiples and specialist pet shops, and holds an established position in Poland. BPC operates a 385,000-square-foot manufacturing and distribution facility located in Crick, Northamptonshire.
"Joining forces with IPN and CapVest is a fantastic opportunity for Butcher’s," said Tim Watsham, CEO of BPC. "Together, we share a passion for providing the best nutrition for pets and a commitment to excellence. 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.”
New CEO to lead joined company
IPN has also announced it will appoint Arthur van Benthem as CEO of the group, which will have combined gross sales of approximately £350 million (US$461.7 million), predominantly comprising branded products. Van Benthem will lead IPN’s growth strategy and has extensive experience working with management teams and private equity owners to grow and develop international businesses. With a background in sales and marketing, he has held executive leadership roles across several markets in EMEA, U.S. and the Asia/Pacific region with companies such as Unilever, Coca-Cola Company, Royal FrieslandCampina, Imperial Brands and most recently Dunlop.
“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," said Van Benthem. "Strategically, it also provides us with an established platform and opportunity to expand our presence in the growing European pet food market."
Headquartered in Thirsk, North Yorkshire, IPN is best known for its high-quality natural dog meals and pet treats under the Harringtons and Wagg brands. In 2020, the company was acquired by international investment firm and buy-and-build specialist CapVest, which subsequently acquired Pet Food UK, which offers branded premium dog and cat pet food brands Barking Heads and Meowing Heads, in 2021.
"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 caliber ready to lead this plan with his extensive brand, financial, strategy and leadership experience," said Kate Briant, senior partner at CapVest. "This deal is a great example of CapVest’s passion for building strong, differentiated global companies through significant investment in people, technology, innovation, and capabilities."
According to Petfood Industry's Top Companies, Inspired Pet Nutrition (formerly Wagg Foods) is the U.K.’s largest independent producer of dry pet food. Butcher's Pet Care specializes in natural, wet pet food that is free of cereal, soya and gluten, and contains no artificial coloring, flavoring or preservatives. It claims to be the third-largest pet food manufacturer in the UK.
Adapted from a press release.
