Pet care products supplier snaps up another brand
Yorkshire-headquartered Assisi Pet Care, a supplier of natural pet treats and foods, is continuing its expansion with the acquisition of natural treats business Pet Munchies.
The latest deal add to its growing stable of brands that now includes the Hi Life, Hollings, Maced and Dog Way ranges of premium products.
Pet Munchies was established in 2008 by founder Suzanne Rothman and markets its range of natural dog and cat treats though retailers including Amazon, Ocado and many of the UKs leading independent pet stores.
This latest acquisition brings Assisi’s annual revenue to £70m with manufacturing operations in the UK and Poland employing 300 staff in total.
The deal, which completed on 30 June 2022, marks the fourth acquisition by Assisi since the business was founded in a joint venture between Yorkshire-based entrepreneur, Peter Mangion, and Harwood Capital Partners of London in October 2020.
Mangion said: “The Pet Munchies brand is a great fit for Assisi and widens our product range, bringing a raft of new retail opportunities.
“We believe Pet Munchies has enormous potential to grow in both the UK and European markets and we look forward to helping deliver that growth in the very near future as we gain momentum and scale in the premium sector.
“We’re committed to further growth by acquisition with the support of our partner, Harwood Capital.”
The deal follows the February acquisition of Poland-based Maced, and previous deals to acquire Town and Country Petfoods in March 2021, and Hollings in October 2020 as its first investment.
Advisers to Assisi on the deal included Jonathan Simms, Kaira Clarehugh and Jonathan Schneider of Clarion in Leeds who provided legal advice from corporate team.
The company was also supported by Murray Harcourt which provided financial due diligence. Russ Cahill of the Tax Advisory Partnership provided tax due diligence to Assisi Pet Care.
Simms added: “Assisi continues to show great ambition in bringing the best premium brands under its group umbrella, and we’re excited to be helping such a great business make such rapid progress.”