Investor-backed Inspired Pet Nutrition (IPN) has struck an acquisition outside of its domestic UK market with a deal for Sopral in France.
Owned by private-equity firm CapVest Partners since 2020, IPN has snapped up Brittany-based Sopral from fellow investment company Parquest in France. Subject to regulatory approvals, the financial terms of the transaction have not been disclosed.
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Located in the commune of Pléchâtel, Sopral is a manufacturer of both dog and cat foods in the premium dry segment under brands such as Pro-Nutrition Prestige, Pure Life and Protect.
Operating out of a 13,400 square-metre facility and with an employee count of more than 130, Sopral supplies the local market but also exports to 50 countries worldwide, according to a statement.
Arthur van Benthem, the CEO of IPN, said: “This highly complementary strategic combination marks a significant milestone for IPN and provides us with a state-of-the-art manufacturing, logistics and sales platform to grow and realise our ambitious growth plans in the European market.
“We look forward to working with the Sopral team to build on their significant successes to date.”
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By GlobalDataHeadquartered in Thirsk, North Yorkshire, IPN owns the Harringtons, Butcher’s and Wagg brands, some of which were added to its portfolio through acquisitions.
The most recent deal was inked last year with Butcher’s Pet Care in the UK. In 2021, Pet Food UK was added to the portfolio, including the cat and dog food brands Aatu, Barking Heads and Meowing Heads.
Matthew Fargie, a principal at CapVest, said: “Following on from the acquisition of Butcher’s last year, Sopral is another great addition to the IPN platform, creating significant capability and scale to underpin IPN’s growth in Europe.
“The acquisition will unlock a number of new opportunities for organic and acquisition-led growth…”
Parquest acquired Sopral in a management buyout from French food company Avril in 2018.
Commenting on the latest transaction with CapVest and IPN, Thomas Babinet, a partner at Parquest, said the private-equity investor has built up Sopral into a business “firmly positioned in high-growth markets”.
“We revamped the flagship brands, strengthened the distribution network, launched an e-commerce platform, and doubled production capacity,” he said.
