Butternut Box, the UK-based company that is now Europe’s largest fresh dog food brand, has raised £280m in its latest fundraising round from new investor General Atlantic, an American growth equity firm. Existing investor L Catterton also participated in the round.
The company plans to use the funds to continue growing the brand’s presence in Europe, which already includes the UK, Ireland, the Netherlands, Belgium, and most recently Poland. The investment will include the development of a new European manufacturing facility.
Kevin Glynn, co-founder of Butternut Box, said: “We are delighted to now partner with General Atlantic, who is an incredible investor and shares our long-term vision of developing the category of Fresh pet food across Europe. It is also fantastic to receive further support from our long-standing partner, L Catterton who we’ve been proud to work with for several years now and who also believes in the power of Fresh and that we are only really at the starting line.
“Most notably we are incredibly excited by what this investment will unlock for our customers (dogs and humans) in the years to come as we are nothing without them.”
Melis Kahya Akar, Managing Director and Head of Consumer for EMEA at General Atlantic, added: “There is an immense opportunity set across the Fresh pet food category in EMEA, and we believe Butternut Box is well positioned to leverage its digitally enabled business model to meet this growing demand. We look forward to utilising our pet expertise and technology capabilities to support the company through its next chapter of growth.”
