Butternut Box to build EU footprint with new £280 million investment
The London-based fresh dog food company is including a new manufacturing facility in its expansion plans.
Butternut Box has raised £280 million ($351M/€327M) led by its new private equity investor, General Atlantic, and existing investor L Catterton.
The company plans on using the investment to expand its brand presence in Europe, including a new manufacturing facility, the location of which has yet to be disclosed.
The transaction is expected to close toward the end of this year.
The firm acquired earlier this year Polish fresh dog food company PsiBufet with the objective of expanding further into Central and Eastern Europe.
Butternut Box is currently sold in the UK, Ireland, the Netherlands, Belgium and Poland. It is believed that the company raised over £100 million ($125M/€116M) in investment since its establishment in 2016.
A long term vision
Butternut Box co-founder Kevin G Glynn welcomed the new partner General Atlantic, saying they share the company’s “long-term vision of developing the category of fresh pet food across Europe.”
Melis Kahya Akar, Managing Director and Head of Consumer for EMEA at General Atlantic, highlighted the “immense opportunity” set across the fresh pet food category in Europe, Middle East and Africa.
“Butternut Box is well positioned to leverage its digitally enabled business model to meet this growing demand,” she adds.
The new investing partner hopes to bring its pet expertise and technology capabilities to support the company through its next chapter of growth. General Atlantic recently invested in Village Pet Care, a platform for animal care services in North America.
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