Pure Pet Food has secured a further £15m investment to support further expansion at the dogfood brand following a period of rapid growth.
Set up by childhood friends Daniel Valdur Eha and Mathew Cockroft in 2013, the Yorkshire-based business today employs more than 100 staff and serves in excess of 40,000 regular subscription customers.
Pure Pet’s sales have grown by more than 200% in the past two years to a run rate of £25m, capitalising on the premiumisation of the petcare industry.
This growth encouraged the business to seek additional external investment to fuel further expansion in the UK and new markets, as well as develop its distribution channels and product categories.
The £15m investment round was led by Felix Capital and backed by Mercia Ventures.
“We are thrilled to partner with Felix Capital, whose team have demonstrated exceptional support and collaboration,” Cockroft said. “Having one of Europe’s leading consumer investors involved in the business marks a significant milestone for us, and we are excited to shape the future of Pure together.
“We are also delighted for the ongoing support from our current investors and team, who believe in our mission and sector. Dan and I have come a long way from starting Pure. Our ambitions have grown alongside the business, and we are eager to continue in our quest to create food that makes a profound impact on the health and happiness of our dogs.”
Pure Pet’s range of healthy, ambient dogfood is made using fresh and raw ingredients at its Yorkshire factory, with the meals delivered directly to customers.
In 2023, the company appointed Roz Cuschieri, who has previously held board roles at Warburtons and Genius Food, as CEO to work alongside the founders.
Antoine Nussenbaum, co-founder and investor at Felix Capital, added: “We will always remember the first visit to Pure’s offices. We witnessed everything we like to see in an entrepreneurial journey. The long-standing relentless drive from Mat and Dan, combined with Roz’s amazing experience in consumer-packaged goods is a true recipe for success.
“In a world where people opt more and more for pethood over parenthood, we are humbled and excited to join this journey. We will be supporting the whole team at Pure with their mission to become a leading, high-quality, sustainable, and distinctive modern brand for pets.”
Mercia Ventures investor Jan Oosthuizen said: “Pure has gone from strength to strength in recent years, a testament to the dedication and hard work of Dan, Mat, Roz and the team. The company’s vision and ambition consistently excite us, so we are delighted to continue to support them in their pursuit of future milestones and to partner with Antoine and the wider Felix team.”
The latest round follows a “multimillion-pound” investment in 2021 and a £2m cash injection in 2019 from NVM private equity.
Pure Pet Food was advised by Womble Bond Dickinson and BHP, while Mercia Ventures worked with Muckle and Philip Hare & Associates. Felix Capital was advised by Latham & Watkins, and Mazars.
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