A 海角视频 manufacturer of pet supplements has been sold in a 拢10 million-plus deal.
Custom Vet Products (CVP), which sells soft chew range mainly through vet practices in the 海角视频 and Europe, has been bought by European animal health product firm Swedencare AB.
It will continue to be led by current managing director David Ryder from its base in Shepshed, near Loughborough, but will be rebranded as Vetio 海角视频.
Management were advised by specialists from national law firm Bevan Brittan and advisory firm BHP Corporate Finance.
David Ryder said: "In recent months we have already started collaborating with some Swedencare subsidiaries.
鈥淚 firmly believe that the opportunity of being a part of Swedencare will provide superb synergy and bring fantastic opportunities to expand more rapidly into the 海角视频 and European markets.
鈥淪wedencare鈥檚 proven international leadership, ethos and expertise directly in our area is something we are really excited about being a part of.
鈥淲e look forward to maximising future growth by making superb products for our partners and customers.鈥
Swedencare chief executive H氓kan Lagerberg said: 鈥淭hrough the acquisition of CVP, we can accelerate our plans to launch soft chews on the European markets.
鈥淭his will both help us to add new products to our existing brands fast and also enable us to facilitate a European launch for some of our important US-based private label and contract manufacturing customers.
鈥淒avid and his team have done a fantastic job and have a unique competence in developing soft chews.
鈥淭ogether with our own competences from Vetio and Garmon we are creating an important player for the European soft chew market.
鈥淐VP will be renamed Vetio海角视频 as the first entity in Europe for Vetio which now means that we have own manufacturing on both continents.鈥
Christian Hunt, corporate partner in Bevan Brittan鈥檚 Leeds office, said the transaction was a strong outcome for CVP.
He said: 鈥淚t鈥檚 been fantastic to support CVP on this transaction and to see first-hand the excellent strategic fit between this business and Swedencare.
鈥淚t represents an exciting opportunity for further growth and development in the 海角视频 and Europe and I look forward to working with them on their future plans.
鈥淚t is a transaction which shows that, if you have a good product and good offering, you can still get successful deals done and achieve full value even in challenging market conditions.鈥
Andy Haigh, a partner at BHP Corporate Finance, said: 鈥淎nimal health is an exciting growth market and I fully expect CVP to thrive under Swedencare鈥檚 ownership 鈥 it is a great home for the business to develop and grow.鈥
Bevan Brittan鈥檚 team was made up of corporate finance experts Christian Hunt and solicitor Briar Streight, with the firm also providing employment and property advice.
BHP Corporate Finance鈥檚 team was made up of Andy Haigh and Tim Brind, who worked with Alison Barnes from the SPA advisory team alongside Tom Roseff and Ryan Wilkinson from BHP LLP鈥檚 transaction tax advisory department.
