Acquisitive petfood manufacturer Inspired Pet Nutrition (IPN) has moved to cement its entry into Europe with the purchase of Ultra Premium Direct (UPD), France’s leading DTC petfood brand.
Following hot on the heels of IPN’s acquisition of French premium petfood manufacturer Sopral in early July, the deal is expected to conclude in the next few months. The Grocer understands the transaction will boost IPN’s annual group revenues to more than £500m.
The deal will make the CapVest-owned group a major European player in petfood, taking on UPD’s more than 285,000 active online customers, as well as a network of 21 branded retail outlets.
Combined with IPN’s manufacturing site in Poland and Sopral’s high-tech French factory, UPD’s strong digital infrastructure will open up Europe for organic expansion for the group.
“UPD has delivered impressive growth in both sales and profitability and represents a strong strategic addition to IPN,” said CEO Arthur van Benthem.
“It brings with it a sophisticated, proven e-commerce platform with significant international growth potential, a rapidly expanding mono-brand store network, and another outstanding brand to our portfolio.
“The business is highly complementary to both IPN and Sopral. By combining UPD’s direct-to-consumer strengths with Sopral’s extensive manufacturing capabilities and IPN’s broader network and customer base, we unlock powerful opportunities to accelerate our ambitious growth plans across Europe.”
IPN will buy 100% of UPD’s shares from a group of shareholders led by majority owner Eurazeo, a Paris-headquartered private equity firm.
Pierre Meignen, head of Eurazeo’s lower mid-cap segment Elevate, said his team was proud to have supported the founders and management of UPD through key stages in the company’s development.
“We thank IPN for the trust they have shown in UPD and are confident that this partnership will enable the company to embark on a promising new phase of growth,” he added.
IPN’s move into Europe follows its transformative acquisition of UK wetfood specialist Butcher’s in August 2024, which brought revenues up to £350m.
IPN has grown rapidly since its takeover by CapVest in 2020, with a focus on high-margin brands in the portfolio like Harringtons and Wagg natural dog treat and food brands.
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