Private equity firm Axcel has acquired Voff Premium Pet Food, owner of the Nutriment brand and a leading European producer of natural premium pet food.
The Swedish-based Voff group sells raw pet food, treats, chews and supplements through online and retail channels across Germany, the UK and the Nordic countries. Voff has more than 300 employees and generates approximately 1bn Swedish Krona (£82m) in revenue. The family of brands includes Leo & Wolf as well as Nutriment, which it acquired in 2017.
Axcel has a strong focus on investment in Nordic companies in the fields of industrials and business services, technology, consumer goods and healthcare. In the last 25 years, the company has raised six funds with cumulative capital commitments of EUR 2.8 billion.
Los Angeles-based credit investment firm Crescent Capital Group provided financing support for the acquisition.
Christine Vanden Beukel, managing director and head of Crescent’s European specialty lending strategy, said: “We are excited to support this partnership between Axcel and Voff, as the company’s existing leading market position within the European pet food business is poised for strong organic growth and expansion through strategic acquisitions.
“This is Crescent’s second investment in the premium pet food sector this year, and we look forward to continuing to work with innovative sponsors and their portfolio companies in fast-growing sectors like this.”
