One of Britain's biggest petfood manufacturers Inspired Pet Nutrition is in talks to buy independent rival Butchers.
As reported by Sky News, Capvest, the owner of Inspired Pet Nutrition (IPN), is orchestrating a bid for Butchers Petcare.
Other bidders are also understood to have bid for Butchers, although IPN is seen as the most obvious buyer given its existing scale in the UK petfood market, stated the report. IPN already owns brands including Wagg and Harringtons.
Earlier in January, it was reported that IPN has passed the £200 million milestone in its latest financial results as it celebrates its 100th anniversary. According to reports, the company is targeting acquisitions to support further growth.
Based in North Wales, the company produces pet foods under the Harringtons, Wagg, Barking Heads & Meowing Heads, and AATU brands. Petfood Industry's Top Companies notes IPN, formerly Wagg Foods, is the UK's largest independent producer of dry pet food. In 2020, private equity firm CapVest became the new majority shareholder after a sale by L Catterton. In 2021, IPN acquired Pet Food UK, home to premium brands Barking Heads, Meowing Heads and AATU.
This year in January, IPN passed the £200 million milestone in its latest financial results as it celebrates its 100th anniversary.
IPN spent the first 25 years growing to a £100m sales business and then doubled in the following five years through organic growth and acquisitions.
Butchers was founded by Graham Baker, the son of a livestock farmer, in 1987, and has seen sales and profits grow steadily in a sector which continues to see booming demand for premium products. Two years ago, it secured a £43m funding package aimed at fuelling its expansion from lenders including Secure Trust Bank.
