Yorkshire-based pet food business Inspired Pet Nutrition (IPN) has announced that it reached a milestone sales revenue figure of £200 million ($253.8M/€233.3M) in 2023.
The company says that in the last 5 years, it has doubled its sales revenue mainly due to the organic growth witnessed throughout the period and the acquisition of Pet Food UK in 2021, led by private equity business CapVest.
Previous pet food acquisitions and investments that pushed its capital growth include an investment into Real Pet Food Company in 2007, which now houses IPN’s treats kitchen and wet food plant, and the launch of natural dog food brand Harringtons in 2008.
The family-founded business will target at least £500m ($633.8M/€582.9M) in sales within the next 5 years and to become one of the big 3 UK pet food manufacturers.
IPN’s Chairman, Richard Page, says this will be achieved through organic growth, offering customers a better value and enhancing their merger and acquisition (M&A) strategy.
“The coming years will see more waste removed from packaging and the supply chain, improved customer service and a focus on growing our brands into new sub-categories—especially wet feeding and treats,” Page notes.
The company believes bringing new brands and manufacturing capabilities into the IPN platform will allow them to strive for even more accessible pet nutrition.
Sustainability and affordability
IPN became the first major UK pet food manufacturer to be certified carbon-negative in 2020 and now strives to plant 1 million trees to reach its goal of having net zero emissions and 100% recyclable, reusable or refillable packaging by 2025.
The company’s Chief Technical Officer, James Lawson, points to “great nutrition,” affordability, and accessibility as IPN’s key core values.
“Whatever the brand or price point, we make sure we invest more quality nutrition in every mouthful than the competition,” Lawson says, concluding that the company continuously improves the taste and digestibility of its foods, “particularly using fresh ingredients to assist us in this pursuit of making the very best food money can buy.”
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