Czech pet-food business Vafo Group continued its acquisitions by buying peer Dagsmark Petfood.
The deal, done for an undisclosed amount, is Vafo’s third in the last ten months.
Finalnd-based Dagsmark mainly specializes in wet pet food, which Vafo proposed to complement its portfolio in the country.
The acquisition includes Dagsmark’s production facility in the town of Mellilä.
In Finland, Vafo is represented by its subsidiary Prima Pet Premium, which also operates a dry food factory that opened last year following a €20m ($21.5m) investment.
Vafo said the acquisition of Dagsmark meant it became “the clear leader in the pet food market in the Nordic countries”.
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Post-deal, Dagsmark, founded in 2016, will retain its current workforce and its products will remain unchanged.
Timo Pärssinen, CEO of Vafo’s Prima Pet Premium operation, said: “This is a strategic step for the Vafo group and especially for Prima Pet Premium, the producer of the best-selling pet food on the local market, Hau- Hey Champion.
“With Dagsmark’s wet food production, we will strengthen our position, but it also creates opportunities to expand into other Nordic markets.”
Riikka Koskenohi, CEO of Dagsmark, said: “With a new owner, we get additional resources, expertise and the opportunity to invest more in development”.
Petr Kříž, head of M&A at Vafo, has been appointed chairman of the board of Dagsmark. He said: “Our commitment to local sourcing and production of premium pet food for regional markets is a key pillar of Vafo’s sustainable strategy, which significantly differentiates us from our global competitors. In this context, Dagsmark, with its expertise in wet food production, is perfectly in line with our vision.
Last July, Vafo acquired Pooch & Mutt, a UK-based pet-food brand focused on natural ingredients, in a “multi-million pound” investment.
Vafo is a long-time manufacturing partner of Pooch & Mutt and bought a minority stake in the business in 2020, increasing that to 40% in 2022.
Three months earlier, the group bought a majority stake in Swedish pet food wholesaler Lupus Foder in a deal it said would strengthen its presence in Scandinavia.
