London, United Kingdom-based fresh dog food company known for its innovative approach to pet food, Butternut Box raised GBP 20 million in recent funding. The company announced the investment on September 5, 2023. New investor General Atlantic, a leading global growth equity firm, led the financing for the company. Meanwhile, existing investor L Catterton, a leading global consumer-focused investment firm, also provided the funding.
Purpose of investment for Butternut Box
With the latest financing, the company seeks to further scale the brand’s presence in Europe. It also plans to continue its mission to deliver fresh, tasty, and healthy meals to dogs around the world.
This latest investment propels the company’s momentum. Butternut Box intends to fuel the Company’s leadership position across the Fresh category in the pet food space through further European expansion. It also includes the development of a new European manufacturing facility.
The planned facility will be the second of its kind for Butternut Box after Rudie’s Kitchen, a fully integrated manufacturing and fulfilment facility that opened in March 2021. The facility provides the company with complete visibility and control over its emissions production. In addition, it strengthens the company’s commitment to creating a positive impact across all areas of its business.
What the company’s official has to add
Kevin Glynn, co-founder of Butternut Box, said, “It’s thrilling 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.”
David Nolan, co-founder of Butternut Box, further added, “We’re thrilled about the ways in which this investment will allow us to continue to live out our mission. Everyone has a uniting purpose to deliver health and happiness to all dogs everywhere. This investment will help us take the next leap forward in doing just that.”
What the investors have to comment
In addition, Melis Kahya Akar, Managing Director and Head of Consumer for EMEA at General Atlantic, said, “We are very excited to partner with Kevin and David, who have reimagined Fresh pet food through Butternut Box’s diversified product portfolio and mission-driven brand,” said “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.”
Besides, Howard Steyn, a Partner at L Catterton, said, “Since partnering with Kevin, David, and the team three years ago, Butternut Box has expanded its leadership in the growing Fresh pet food space in the U.K. and Europe and has built a loyal following among pets and humans alike. While we have long had conviction in the UK Fresh category after investing behind this concept in the U.S., we’ve been particularly impressed by how Butternut Box continues to innovate and deliver such compelling value to its customers. We look forward to leveraging our global experience in the pet category to support the brand’s next phase of growth.”
About the company
Kevin Glynn and David Nolan launched the company in 2016. So far, the company’s total funding amounts to more than GBP 100 million to date, including investments from L Catterton, White Star Capital, Five Seasons Ventures, Passion Capital, Literacy Capital, Claret Capital, as well as HSBC.
For more extensive analysis and Market Intelligence reports, feel free to approach us.
We try our best to fact-check and bring well-researched as well as non-plagiarized content to you. Please let us know
if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover
–what information you are looking for in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
