Harbert European Growth Capital Fund II provides Butternut Box (UK) with Debt Capital
Harbert European Growth Capital Fund II, has provided Butternut Box with debt capital. Butternut is the leading human-grade, cooked fresh dog food company in Europe. They provide freshly prepared pre-cooked meals, currently for dogs, based on their size, age, breed, fitness and dietary requirements with the aim of ensuring pets to eat healthy meals.
Butternut uses its technology end to end to optimize efficiency from a customer order, down to preparation of the food and delivery in a market which is growing rapidly. The debt will be used to help Butternut continue on its expansion across the UK and to help build a state of the art facility to increase its order capacity.
David Nolan and Kevin Glynn, Co-founders of Butternut noted, “Butternut is driven by our founding purpose of delivering health and happiness to dogs and their humans all over the world. With the help of HEGCF II we have been able to make a long-term investment into this exact purpose. Our new facility will help accelerate our operational footprint in order to expand our base of Butternut customers who love feeding their dogs fresh food. We are very excited to be partnering with HEGCF II and we are delighted that they have decided to join the Butternut journey.”
Hemal Rawal, Vice President of HEGCF II said, “Butternut has introduced a well-known concept of meal delivery in the UK but this time for pets and is a rapidly growing alternative to mainstream pet food.
By providing tailored fresh and healthy recipes to pets they are able to help reduce health problems in the long term and improve their quality of life. Their growth has been exceptional over the past few years, even in the challenging economic environment, representing the product / market fit of their offering.
We are delighted to have provided Butternut with debt financing to support their overall growth and look forward to our future partnership.”
Source: HMC Investor relations