Assisi Pet Care has made another acquisition, with the UK company striking a deal with treat manufacturer Pet Munchies.
Pet Munchies, founded by Suzanne Rothman, operates from a facility in Edgware, Middlesex, and sells its treats online through its own website, as well as with Amazon and independent retailers. Financial terms were not disclosed.
This is the second M&A transaction initiated this year by Assisi Pet Care, which in February acquired Maced, a Polish maker of air-dried dog snacks.
Assisi Pet Care was established in 2020 by Peter Mangion in a buy-and-build joint venture with Harwood Capital Management in London. Other acquisitions include UK company Hollings in 2020, a supplier of natural dog treats, and another UK company, Town and Country Petfoods, which makes cat and dog food and snacks under the Hi-Life brand. This agreement was concluded last year.
In accounts filed with Companies House in London for the period August 31, 2020 to March 31, 2021, Assisi Pet Care reported revenue of £7.4 million ($8.8 million). The business generated EBITDA of £634,740 and operating profit of £324,383. The net profit was £63,780. No comparison was provided.
CEO Mangion said, “We are delighted that Suzanne has entrusted Assisi Pet Munchies and we look forward to welcoming Suzanne and her team to our growing business. We believe Pet Munchies has huge potential for growth in the UK and European markets and we look forward to contributing to that growth in the very near future.
Rothman added: “Building Pet Munchies into a leading treats brand in the UK has been a great and rewarding journey. We are now excited about our new chapter with Assisi Pet Care.
Pet food is ‘hot’ for food industry deals in 2022 – M&A advisors talk to Just Food about the year ahead.