Published July, 2024

Private debt investment in Pet Buddy Group

Published July, 2024

Armada Fund VI has closed its first investment and provided financing to Pet Buddy Group in conjunction with the company’s add-on acquisition of Thrive Pet Foods.

Pet Buddy Group (“PBG”), headquartered in Sweden, is a premium pet food and care platform for dogs and cats. PBG has six own brands with the first brand, Buddy Pet Foods, created and launched in 2018. In May 2024, PBG acquired Thrive Pet Foods (“Thrive”), a UK-based company known for its high quality and leading cat products (PBG and Thrive together the “PBG Group”). PBG Group exports to over 50 countries, with a strong foothold in the Nordics and the UK. The Group has around 1,100 customers and majority of sales are B2B. The premium pet segment is considered to have noncyclical characteristics, as pet owners are putting increasingly greater emphasis on their pets’ wellbeing, which has led to higher spend on pets and strong growth especially in the premium pet segment.

We are excited to support the management of PBG. Armada finds this an attractive opportunity given their achievements so far with a strong growth noting underlying non-cyclical characteristics. We are convinced that PBG will continue to realise its potential with the acquisition of Thrive Pet Foods to further leverage its scalable multi-channel platform in order to build a global portfolio of market-leading pet brands”, commented Jan Wiklund, Joint Managing Partner at Armada Credit Partners.

For more information, please contact: Jan Wiklund (+46 70 551 4054) at Armada Credit Partners