Czech pet-food business Vafo Group has continued its acquisition spree by buying peer Dagsmark Petfood.
The deal, struck for an undisclosed sum, is Vafo’s third in the last ten months.
Finalnd-based Dagsmark primarily specialises in wet pet food, which Vafo suggested complemented its portfolio in the country.
The acquisition includes Dagsmark’s production facility in the town of Mellilä.
In Finland, Vafo is represented by its subsidiary Prima Pet Premium, which also operates a dry food factory that opened last year following a €20m ($21.5m) investment.
Vafo said the acquisition of Dagsmark means it has become “the clear leader in the pet food market in the Nordic countries”.
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Post-deal, Dagsmark, established in 2016, will retain its existing workforce and its products will remain unchanged.
Timo Pärssinen, CEO of Vafo’s Prima Pet Premium operation, said: “This is a strategic move for the Vafo group and especially for Prima Pet Premium, the producer of the best-selling pet food in the local market, Hau-Hau Champion.
“Together with the wet food production of Dagsmark, we will strengthen our position, but it also creates opportunities to expand into other Nordic markets.”
Riikka Koskenohi, CEO of Dagsmark, said: “With a new owner, we gain additional resources, expertise, and the opportunity to invest more in development”.
Petr Kříž, head of M&A at Vafo, has been appointed chairman of the board of Dagsmark. He said: “Our commitment to locally sourcing and crafting premium pet food for regional markets is a fundamental pillar of Vafo’s sustainable strategy, differentiating us significantly from our global competitors. In this context, Dagsmark, with its expertise in wet food production, aligns perfectly with our vision.”
Last July, Vafo acquired Pooch & Mutt, a UK-based pet-food brand focused on natural ingredients, in a “multi-million pound” investment.
Vafo was a long-time manufacturing partner of Pooch & Mutt and had bought a minority share in the business in 2020, upping that to 40% in 2022.
Three months earlier, the group bought a majority stake in Swedish pet food wholesaler Lupus Foder in a deal that it said would strengthen its presence in Scandinavia.