Butternut Box, a London, UK-based fresh dog food company, raised £280m in funding.
Backers included new investor General Atlantic, and existing investor L Catterton. The transaction’s closing is subject to customary regulatory conditions, but is expected to occur in Q4 2023.
The company intends to use the funds to further its brand’s presence in Europe.
Led by Kevin Glynn, and David Nolan, Butternut Box is a fresh dog food brand, serving freshly–prepared meals, delivered straight to customers. Its core meals include 12 fresh recipes, plus a selection of treats, chews and supplements.
The company is operating in the UK, Ireland, the Netherlands, Belgium, and most recently Poland following its April 2023 acquisition of PsiBufet, one of the largest fresh dog food companies in Central and Eastern Europe. Since its inception in 2016, Butternut Box has grown rapidly, raising over £100m to date including investments from L Catterton, White Star Capital, Five Seasons Ventures, Passion Capital, Literacy Capital, Claret Capital, and HSBC.
Now, the expansion of the company includes the development of a new European manufacturing facility. The planned facility will be the second of its kind for Butternut Box after Rudie’s Kitchen, a fully integrated manufacturing and fulfilment facility that opened in March 2021, giving the company complete visibility and control over its emissions production.
FinSMEs
04/09/2023