UK food manufacturer Cranswick is making a bid for a return to the pet care market as it draws up plans to buy the owner of the Wagg and Harrington’s brands, according to national media sources.
Sky News reported that the company was looking at ways to fund the potential purchase of one of the country’s leading makers of pet food, Inspired Pet Nutrition.
The report claimed that final bids for IPN were tabled earlier this week, with several private equity firms making offers. A decision about the outcome of the sale process is expected within days.
In an announcement published on the London Stock Exchange website, Cranswick said: “The board confirms it is currently engaged in a process regarding the potential acquisition of Inspired Pet Nutrition, a leading UK pet-food business. If successful, the group’s current intention is to part-finance the acquisition via an equity placing of less than 10% of issued share capital to investors.”
If its bid for IPN is successful it would mark a return to the pet industry for the company. Cranswick Pet Products manufactured products for wild birds and small animals under brands like Bucktons and Nature’s Feast until it was bought by Westland Horticulture in 2012.
pbwnews contacted IPN for a reaction but the company said it didn’t wish to comment.
