Butcher’s Pet Care has secured a £43m refinancing and growth funding package with Blazehill Capital.
The company was seeking new funding to refinance its existing facilities and to raise additional capital for more investment and growth to support the delivery of its business plan.
In partnership with lender Secure Trust Bank, Blazehill Capital structured a funding package totalling £43m, consisting of a £25m revolving credit facility and an £18m non-amortising bullet repayment term loan.
Butcher’s chief executive Tim Watsham said: “The deal marks a significant and exciting step for the business. The executive team were clear that the company must continue to invest in our brand and manufacturing capabilities as well as our new product offerings, including our fast growing cat food brand, Blink! We look forward to working with Blazehill Capital as we enter our next stage of growth.”
Tom Weedall, managing director at Blazehill Capital, added: “We are providing a funding solution to support the Butcher’s management team in the delivery of their plan. Our creative structure generates significant liquidity, which now allows the company to accelerate its growth trajectory and cement its market leading position.”
The Northamptonshire-based pet food business was originally established by Graham Baker in 1983.
