LDC Back MBO Of UK Pet Company
LDC has invested £17 million in the MBO of Cranswick Pet & Aquatics from listed food producer Cranswick.
Cranswick consists of two trading divisions: Cranswick Pet Products, a UK manufacturer and distributor of wild bird food products and accessories; and the Tropical Marine Centre, a UK supplier of tropical marine fish and associated aquatic accessories and fish food.
The MBO team is led by the chief executive of Cranswick, Derek Black, together with Paul West, the managing director of Tropical Marine Centre.
The deal will provide the capital required to help support the continuing growth of both Cranswick Pet Products and Tropical Marine Centre through new products, new channels to market and developing the export market further, LDC said in a statement.
“Essentially, we are backing a first-rate management team who have built a market leading business, which we believe is not only resilient to the challenging economy but is also well placed for future growth,” says John Garner, investment director and head of LDC East Midlands.