Rapidly expanding UK pet care venture completes first European acquisition
Assisi Pet Care Ltd, one of the UK’s leading suppliers of natural dog treats, has completed its first overseas acquisition with the purchase of Polish pet treats manufacturer, Maced Sp. z o.o., for an undisclosed sum, from Resource Partners, a Warsaw based private equity firm.
Maced, a long-established manufacturer of natural meat-based dog treats to the European market, is headquartered in Poznan and has manufacturing facilities in Polanow and Gardno. The company produces and markets products under its own brands and also manufactures for customers across Europe. It has a turnover is in excess of £20 million and employs more than 200 people.
The transaction, which completed on 10th February, marks the third acquisition in the 16 months since the establishment of Assisi Pet Care, which is a joint venture between Yorkshire-based entrepreneur, Peter Mangion, and Harwood Capital Partners of London.
Assisi acquired Hollings Ltd, one of the UK’s leading suppliers of natural dog treats, in October 2020 as the first step in its ambitious expansion plans, giving it a strong brand name and an established customer base.
In March 2021, it acquired family-owned Town & Country Petfoods Ltd, based in Melton Mowbray, Leicestershire, which markets an extensive range of dog and cat foods and treats, primarily under the popular HiLife brand.
This latest acquisition brings Assisi’s revenue to just under £60 million and expands its operations to the fast-growing Polish and German pet markets, in addition to its existing UK activities.
Peter Mangion said; “We are delighted to have brought Maced into Assisi, a transaction which significantly grows our European market share, and which also gives us greater control of our supply chain whilst adding significant new product development expertise to our group.
“We are particularly pleased that Tomasz Macionga, the long-standing CEO of Maced, will remain with the business, along with his excellent management team. I am grateful to Harwood Capital which, as partners in the Assisi business, is providing support as we continue to deliver on our buy-and-build strategy in the exciting European pet care market.”
Assisi was advised by Clarion Solicitors, Alvarez and Marsal, and CIL. Debt funding was provided by Crescent Capital.