Swedencare has acquired Custom Vet Products for £10.5 million (€12M) aiming to push the company’s goal of launching soft chews in Europe.
“This acquisition will help us add new products to our existing brands and also enable us to facilitate a European launch for some of our important US-based private label and contract manufacturing customers,” said CEO Håkan Lagerberg.
“Together with our own competencies from Vetio and Garmon, we are creating an important player for the European soft chew market. CVP will be renamed VetioUK as the first entity in Europe for Vetio, which now means that we have our own manufacturing on both continents.”
David Ryder, founder of CVP, will continue working as team leader.
“I firmly believe that the opportunity of being a part of Swedencare will provide superb synergy and bring fantastic opportunities to expand more rapidly into the UK and European Markets,” Ryder said.
According to an announcement of the Malmö-based veterinary company, the sales in the first 9 months this year, worth SEK1332.1 million (€122.5M), increased by 159% compared to the same period in the last year.
From April 2021 to March 2022, Custom Vet Products revenue realized £2.4 million (€2.7M).