UK pet-food group Butternut Box acquires Polish PsiBufet
- Founded in 2012, PsiBufet offers a healthy and natural diet for dogs. PsiBufet’s business model is based on regular deliveries, every two to four weeks. Every first order includes all the products, so that the dog can taste the entire range. The specific diet is adjusted after that test run.
- PsiBuffet has raised almost €5 million (PLN 23 million) since its launch. Kogito Ventures and RKKVC funds were among its investors, as well as business angels, including founders and people associated with companies such as Packhelp, Omnipack, Nice To Fit You. As RKKVC informed, it has earned a high few hundred percent of return in the frames of the exit.
- Butternut Box is a British pet food brand, that since its launch in 2016 has expanded throughout Europe, available in the UK, Ireland, the Netherlands, Belgium, and now Poland with this acquisition. Butternut Box said that the deal will also allow PsiBufet to provide more advanced online customer experience.
- Butternut Box was also an investor in PsiBufet from the first round.
“PsiBufet shares our commitment to providing dogs with fresh, wholesome, nutritious meals, and we are excited to bring their expertise and product offerings into our portfolio. This acquisition allows us to scale our operations in Europe and bring the Butternut Box experience to even more dog owners and their beloved dogs,”Kevin Glynn, the co-founder of Butternut Box, said.
- To date, Butternut Box has totallly raised over $124.5m million in funding since its inception with investors such as White Star Capital and L Catterton, the private-equity firm set up by LVMH.