By Daniel Selwood2020-12-18T00:01:00+00:00
Source: Unsplash
Petcare’s been rich with investment of late. In April, Nestlé spent an undisclosed sum to buy buoyant Lily’s Kitchen. In September Forthglade was sold for £50m. That was followed in October by Spectrum Brands putting up £140m for Armitage Pet Care, while dry dogfood specialist Skinner’s grabbed a majority stake in wet dogfood producer Naturediet.
Amid the flurry of M&A activity, Aardvark Petcare smashed its launch fundraising target, Edgard & Cooper secured over £16.5m, and Denzel’s netted a six-figure cash injection, following a £20m investment in DTC petfood brand Butternut Box back in February.
By Alec Mattinson2020-12-16T16:20:00+00:00
Pork and meat supplier Cranswick is mulling a move into the fast-growing premium petfood sector with the potential acquisition of Inspired Pet Nutrition.
The Grocer reported in September that private equity group L Catterton had hired mid-cap investment bank Harris Williams to launch a sales process for IPN before the end of the year.
Responding to a Sky News report, Cranswick this morning confirmed it is “currently engaged in a process regarding the potential acquisition of Inspired Pet Nutrition Limited”.
It stated: “In line with the company’s stated long-term growth strategy to expand its product offering through further diversification, Cranswick regularly considers acquisition opportunities.”