Inspired Pet Nutrition (IPN), an independent British pet food company under the control of CapVest Partners LLP, has announced its acquisition of Butcher’s Pet Care (BPC), a leading producer of premium wet pet food. Although the details of the deal have not been made public, this merger will create a significant entity in the pet food industry, with a projected combined revenue of approximately £350 million, mainly from branded products.
Established in 1983, Butcher’s Pet Care is a major player in the UK’s wet pet food market, offering a variety of products under three key brands: Butcher’s, known for its affordable and naturally nutritious dog food; Blink!, a premium natural wet cat food; and Classic, an affordable and complete natural cat food. BPC also manufactures private label pet food for a range of customers, including pet shops and large retailers. The company has a strong foothold in Poland, where Butcher’s is the second-largest dog food brand. BPC operates a well-equipped 385,000 square foot manufacturing and distribution center in Crick, Northamptonshire.
In the wake of this acquisition, IPN has announced that Arthur van Benthem will be appointed CEO of the expanded group. Van Benthem has a wealth of experience in sales, marketing, and corporate leadership, having held key positions at global companies such as Unilever, Coca-Cola, Royal FrieslandCampina, Imperial Brands, and most recently, Dunlop. His leadership is anticipated to propel IPN’s ambitious growth plans, particularly as the company looks to increase its footprint in the European pet food market. Van Benthem expressed his enthusiasm for the merger, highlighting that BPC’s brand portfolio aligns perfectly with IPN’s goal of developing a diverse range of natural wet and dry pet food brands that deliver excellent nutrition at affordable prices.
CapVest, an international private equity firm, has been instrumental in IPN’s growth since acquiring the company in 2020. CapVest specializes in building strong, differentiated global companies by making significant investments in people, technology, innovation, and capabilities. The acquisition of Butcher’s Pet Care is seen as a strategic move to strengthen IPN’s scale and presence across various categories, channels, and customer segments. Kate Briant, Senior Partner at CapVest, emphasized that the acquisition is a clear demonstration of CapVest’s commitment to transforming companies through a blend of organic growth and acquisitions.
IPN, based in Thirsk, North Yorkshire, is best known for its natural dog food and pet treats under the “Harringtons” and “Wagg” brands. The company is dedicated to using natural, high-quality ingredients to ensure that its products are both nutritious and affordable. In 2021, IPN expanded its portfolio under CapVest’s ownership by acquiring Pet Food UK, adding premium dog and cat food brands like “Barking Heads” and “Meowing Heads.”
The transaction is expected to be finalized in the fourth quarter of 2024, with IPN being advised by Harris Williams and Raymond James, while Butcher’s shareholders were advised by Houlihan Lokey. This acquisition represents a major milestone in IPN’s growth strategy, positioning the company as a leading competitor in the European pet food market.
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