We have advised the selling shareholders including longstanding client Rutland Partners on the £140 million sale of Armitage Pet Care (‘Armitage') to Spectrum Brands Holdings, Inc.
Armitage is the leading independent supplier of branded pet treats and toys in the UK including under the well-known brand Good Boy.
The disposal comes from Rutland Fund III. Rutland acquired Armitage in September 2017 and in three years has transformed the capabilities of the business.
Ben Slatter, Partner at Rutland, said: “Armitage has delivered consistent growth by developing on-trend premium natural products in a very attractive niche within the pet category. Taylor Wessing is a valued partner and provided great support in helping to achieve this sale; both Rutland and management have enjoyed working with Ed and his wider team throughout the life cycle of this investment.”
Commenting on the deal, private equity partner, Ed Waldron commented: "In a growing UK market for premium pet products, Rutland and the management team's transformation of Armitage has positioned it as a high-growth prospect. This deal allowed us to display the breadth of expertise we have across our firm for a long-standing and valued client."
The team was led by private equity partner Ed Waldron, with support from senior associate Nick Karangizi and associate Alice Picton.
Partner Mark Smith and senior associate Hadassah Shulman provided pensions advice, while senior counsels Colin Godfrey and James Stewart provided employment and tax advice respectively, with associate Katie Horbury provided debt finance advice.