Inspired Pet Nutrition completes acquisition of Butcher’s Pet Care

British pet food manufacturer Inspired Pet Nutrition (IPN) has completed the acquisition of Northampton-based Butcher's Pet Care, which was announced earlier in August.

IPN's CEO Arthur van Benthem expresses his team is 'thrilled' to welcome the new colleagues. 'This is the start of an exciting new chapter where we unite our passion for pets, combine expertise and share heritage to make an even bigger impact in the UK and European pet food markets.'

The new group is expected to hit over €400 million ($432.4M) in gross sales.

Refinancing

Local media reports that Butcher's is refinancing its existing production facilities with a more adaptable funding solution to increase its financial flexibility.

The company has reportedly agreed to a £43 million ($55.8M/€51.6M) funding package from Credit fund Blazehill Capital and Secure Trust Bank Commercial Finance, a division of Secure Trust Bank (STB) that specializes in providing financial solutions to businesses.

The Northamptonshire-based company didn't comment after a request from GlobalPETS but stated that the leadership team is currently busy with the deal.

The acquisition of Butcher's Pet Care is expected to strengthen IPN's position as one 1 of the UK's 3 biggest pet food manufacturers over the next 5 years. It will also expand its portfolio by offering more affordable, superior natural, wet and dry pet food brands.

Source: GlobalPETS