Pet cares

Investor-backed Assisi Pet Care seizes Poland’s Maced in buy-and-build strategy

Assisi Pet Care in the UK, backed by investors, has taken over Polish company Maced, a maker of air-dried dog snacks.

Family-owned Maced, which supplies retailers with its own brands and private labels in the European Union, United States and Russia, becomes the latest acquisition for Nottingham-headquartered Assisi.

Assisi CEO Peter Mangion set up the company in 2020 in a buy-and-build joint venture with Harwood Private Equity in London. He has since acquired British company Hollings Ltd. (2020), a supplier of natural dog treats, and another UK company, Town and Country Petfoods (2021), which manufactures food and snacks for cats and dogs under the Hi-Life brand. Brand.

Mangion said in a LinkedIn post that the deal for Poznań-based Maced brings Assisi’s revenue to around 60 million euros ($68.1 million) with a workforce of 300 employees across five locations. .

“Maced is one of the leading suppliers of natural dog treats in the European market, with significant market shares in Poland and Germany. In addition to its existing UK market share, this transaction means that Assisi is now a major player in the three largest European markets for companion dogs,” Mangion said.

The Polish company was established in 1993 and has been a major supplier to Hollings “for more than 20 years”, according to a separate statement.

Crescent Capital Group, an investment firm in Los Angeles, provided an undisclosed amount of funding, in part to fund the Maced deal.

Through its “European specialist lending strategy”, Crescent has “provided financing to support the refinancing of Assisi by Harwood Private Equity”, the statement said, adding that “the financing package includes a significant acquisition facility to enable Assisi to pursue its acquisitive growth strategy”.

Christine Vanden Beukel, Managing Director and Head of Crescent’s European Specialty Lending Strategy, said: “Through the transaction and with the financial support of Crescent, Assisi Pet Care will be able to better control its manufacturing process and further increase the company’s capacity. geographic diversification and coverage in all major European pet food markets.

“Crescent specializes in working with forward-thinking sponsors like Harwood on innovative financing transactions to support the growth of their portfolio companies.”

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