Raw dogfood specialist Paleo Ridge has secured a £2m investment from PE player Ashridge Capital to boost its rapid expansion plans.
The new investment will fund the opening of a new despatch and manufacturing facility for the Hampshire-based business, creating more than 20 new jobs at its home base in Waterlooville.
Paleo Ridge has grown by over 100% over the past two years, reflecting its focus on the provenance of its ingredients, which it stresses are ethically sourced, organic, free-range, human grade with no artificial additives
Raw dogfood is one of the fastest-growing sectors of the petfood market, driven by strong growth in pet numbers, which accelerated during Covid, increased spend from pet owners and focus on nutrition.
Over the past seven years, the company said it has helped switch over 20,000 customers to its raw dog food, creating over four million meals over the period.
Tyler Daly, CEO of Paleo Ridge commented: “Ashridge Capital shares our vision to be the UK’s most trusted brand for premium, high quality and high welfare, species appropriate pet food.
“The investment will enable us to expand our manufacturing capacity, provide additional local employment opportunities and meet the strongly rising consumer demand for raw pet food.”
David Sherratt, founder and CEO of Ashridge Capital added: “We are very excited to be partnering with Paleo Ridge and invest in a business that has demonstrated strong growth since inception.
“The brand is highly regarded and has developed a distinctive market position in a high growth market and we look forward to supporting its ongoing expansion.”