SME investor Enact has acquired Nottingham pet food supplier Kennelpak for an undisclosed sum.
Enact, the SME investor managed by Leeds-based Endless LLP, has acquired Kennelpak from its family owners.
Kennelpak is a wholesale supplier of own brand and third party branded pet food and associated pet products, with its own retail chain under the “Kennelgate” brand. The business employs 275 permanent and temporary staff.
In the year ended March 2017 the business was profitable from sales of over £23 million.
Established in 1974, Kennelpak retails a selection of pet food, pet accessories and toys amongst other products for dogs, cats, birds, aquatics, reptiles, horses and home farming.
Having initially started out as a wholesaler of its own brand and third party pet food brands, Kennelpak identified a niche for specialist pet food outlets to supply the public with bulk pet food and pet related items.
UK based, the company now has 21 retail stores (primarily around the Midlands) and a retail website providing a click and collect service.
Investment Director, Chris Cormack, who lead the transaction for Enact said “The business is well positioned in a growing sector and we believe that Kennelpak is an exciting platform from which we can drive accelerated growth. We will be introducing a new Non-Executive Chairman and CEO with the relevant experience to support this strategy.”
Chris Peck, who is joining the Board as Non-Executive Chairman, commented: “I’m delighted to be joining Kennelpak at this point in its journey, alongside Enact. We believe we have invested in a good business and brand which will benefit from additional investment and scale.” Mr Peck was formerly Chairman at West Cornwall Pasty Company, an Enact investment that was sold to Samworth Brothers in December 2016, delivering an outstanding return on investment.
Chris Cormack was assisted by Paul Denvers from Enact. Simon Pilling and James Cook from Bond Dickinson provided legal advice with Russ Cahill providing tax advice. KPMG assisted Enact with financial due diligence. Karen Edwards of Clearwater International acted as advisor to Kennelpak and its shareholders.