The company behind a leading UK supplier of natural dog treats has acquired Town & Country Petfoods in Melton from its family owners.
Assisi Pet Care Ltd, which owns the Hollings brand, has bought the Leicestershire business for an undisclosed sum.
Town & Country was launched by the Parkinson family in 1974 and now has a staff of 24, making dog and cat foods and treats mainly under the HiLife brand.
Based in Skipton, Yorkshire, Assisi was set up last September as a joint venture between founder Peter Mangion and Harwood Capital.
It was created to become a player in the dynamic and fast-growing European pet care market. Its first purchase was Hollings Ltd.
The latest acquisition – which completed on March 2 – broadens the Assisi offer into dog foods, as well as into the cat foods and treats categories.
As well as supplying its HiLife branded products, Town & Country also provides own label products to supermarkets and pet care retailers.
Assisi chief executive Peter Mangion said: “We are very grateful to the Parkinson family for partnering with Assisi and for trusting us to help take the Town & Country business and its successful HiLife brand to the next phase of its development.
“I am personally delighted that family members Tony and Peter Parkinson, and their sister, Julie Bitowt, have agreed to remain with the company as we integrate our existing sales, marketing, finance and operations functions, into the well-established Town & Country teams based at Melton Mowbray.
“Having completed our first acquisition just five months ago, Assisi’s rapid growth trajectory is on track and we are grateful for the continued support of Harwood as we move, with pace, to deliver on our ambitious strategy to become a leader in the European pet care sector.
“This transformational deal has created a £35m turnover business which is well-placed to offer a huge array of products to the rapidly expanding pet care market.”
Tony Parkinson, Town & Country’s managing director, said: “As a family, we are very pleased that our brand and our Melton Mowbray team will be playing such a pivotal role in Assisi’s exciting and ambitious plans.
“The high quality of product and service that pet owners and trade customers have come to expect from HiLife will be the benchmark for the expanding business.
“We believe that the creation of this larger business will bring a fresh, much needed presence in what remains one of the most satisfying markets in which to operate.”
The advisers to Assisi on the deal included Kaira Clarehugh, Jonathan Simms and Andrea Unwin of Clarion who provided legal advice; corporate finance advice from Park Place; Steve Williams and Mark Hunter of Murray Harcourt; Russ Cahill of Tax Advisory Partnership.
BDB Pitmans advised Harwood; and the management was advised by Raworths.
Town & Country was advised by Clearwater International, Browne Jacobson and Duncan & Toplis.
Kaira Clarehugh said: “Peter has an exciting vision to become a significant presence in this fast-growing market.
“This latest acquisition marks another important milestone in his ambitious buy and build mission.”
