An entrepreneur has returned to his North East roots from Australia to take on the online dog food market, after making his first business acquisition.
After moving back to the region from Australia, quantity surveyor Phil Butler has been looking to snap up a business which could provide him and his wife Lynsey with an extra income stream.
Mr Butler identified online dog food retailer Angell Petco as his primary target, which had been put up for sale by founders Robert and Jill Angell who were looking to retire.
The pet food firm makes high quality, healthy dog food – a market that’s on the rise as dogs owners seek out natural food sources for their pets.
The couple has now completed the acquisition of the business, and Mr Butler’s wife will take on responsibility for its day-to-day operations.
He said: “Having previously run business units for my employers, I was keen to take on my own company when we came home and Angell Petco fit the bill perfectly.
“We’re building our brand offering on providing the sort of high-quality products.
“Angell Petco already has strong revenue streams from a loyal customer base, and we feel there were opportunities to make improvements in the business’s structure and operations that will help it do even better in the future.”
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The aim is to grow the business in coming years, with new jobs to follow, and Mr Butler is looking at ways to boost the website and develop marketing activity.
Ayden de Beer, corporate finance executive at RMT Accountants & Business Advisors, has been working with the couple on all aspects of the acquisition.
He said: “Phil has a very clear idea of how he wants to see Angell Petco develop and a very firm grip on the financial and operational steps he needs to take to make this happen.”
Mr Butler added: “RMT’s has been absolutely fantastic and their proactive, practical approach towards helping us get the right operational structures in place has been invaluable.”
Anna McGill, partner in the commercial department at Gordon Brown Law Firm, provided legal advice, said: “We’re delighted to have helped Phil and Lynsey complete this deal, and wish them all the best in putting their plans for the business into action.”