Sentio Insight has provide financial due diligence service on Skinner’s investment in Naturediet in a bid to propel the growth of both businesses. Skinner’s has invested alongside Daniel Masters, Managing Director of Naturediet, which sees Skinner’s acquiring a majority shareholding in Naturediet and facilitating an exit for the founding Orrow family.
Born from seven generations of family heritage, Skinner’s is one the oldest dog food brands in the UK and via its main Field & Trial range, the group is a leading manufacturer of branded dry working dog food, with annual revenues of circa £19m. With heritage deeply rooted at the core of the business, it operates from a state-of-the-art extrusion plant in Stradbroke, Suffolk. The business has ambitious future growth plans with several strategic initiatives planned for 2021.
The group’s latest addition, Naturediet is a leading manufacturer of branded natural wet dog food, with annual revenues of circa £4.5m. Naturediet operates its own state-of-the-art wet “steam cooked” facility in Ickburgh, Norfolk, and has recently invested in two highly innovative Tetra Pak carton filling lines. The partnership will enable both businesses to fast-track their growth trajectory, whilst bringing the two key markets (wet and dry) together to offer an all-inclusive offering inhouse. The enlarged Skinner’s group will have annual revenues of over £24m and will continue to operate from the group’s two separate locations in East Anglia. The new partnership will also look to strengthen the group’s sustainability credentials, with planned packaging refresh and new product lines due to roll out next year.
Roger Skinner, Chairman of Skinner’s comments “We are delighted to be welcoming Naturediet and its team into the Skinner’s group. By combining Skinner’s and Naturediet, we are bringing together expert manufacturing capabilities across both dry and wet dog food, which should unlock significant future growth and new product development opportunities for both brands. This is an exciting time in Skinner’s history.”
Tim Hansell, CEO of Skinner’s, continues “Naturediet operates one of the most technologically advanced wet manufacturing facilities in Europe and was one of the first pet food brands in Europe to invest in the highly innovative and sustainable Tetra Pak carton packaging format. In the years ahead, we believe the consumer will increasingly look to move away from plastic pouches, plastic trays and tin cans to more environmentally sustainable packaging solutions such as Tetra Pak cartons. We believe that Naturediet has a great future as part of the Skinner’s group.”
Daniel Masters, Managing Director of Naturediet says “We are delighted to be partnering with Skinner’s on our journey ahead. Skinner’s is a family owned business, with a deep heritage in our industry and a shared vision and values. Both businesses are based in East Anglia, with a compelling “made by us” story built around heritage, quality ingredients and low food miles. Skinner’s is the perfect partner for us and we are excited about the new product development plans which are
already in progress.”
Ian Robinson at Sentio Insight provided financial due diligence services to Skinner’s.
