IPN in talks to buy Butchers Pet Care
However, Sky also stated that other bidders have also expressed interest to acquire Butchers
UK-based Inspired Pet Nutrition is reportedly in talks to buy independent pet food brand Butchers Pet Care, according to Sky News.
Sky News understands that private equity firm and owner of Inspired Pet Nutrition Capvest is making a bid to add Butchers to its already existing brands of Wagg and Harringtons.
However, Sky also stated that other bidders have expressed interest to acquire Butchers.
It is also unclear how much Butchers will be sold for to any of the bidders. The auction is being handled by Houlihan Lokey.
Butchers is a UK-based, family-owned pet food business founded by Graham Baker in 1987.
For the year ended 31 July 2023, the group reported a turnover of £138m up from £108m.
The group also increased its operating profit from a loss of £4.8m to a profit of £2.5m. Additionally its EBITDA also increased from £1m to £9.6m.
Capvest has been contacted for comment.
