L Catterton sold Lily’s Kitchen, which makes pet food, to Nestlé Purina. CEO David Milner will continue to lead Lily’s Kitchen along with the existing management team.
Lily’s Kitchen (the “Company”), creator of proper food for pets, today announced that it has been acquired from L Catterton by Nestlé Purina, a world leader in pet care. Financial terms of the transaction were not disclosed.
Established 12 years ago in founder Henrietta Morrison’s kitchen in London, Lily’s Kitchen has become an internationally recognised £85 million1 retail brand offering its natural recipes for dogs and cats across 6,000 stores in 30 countries. Last year the company was awarded The Royal Warrant from HRH The Prince of Wales.
Lily’s Kitchen has experienced rapid growth in both international expansion and continued product innovation, and in the last year alone saw a 30% increase in revenue. In its next chapter of growth, Nestlé Purina will help to build upon the Company’s momentum by further increasing Lily’s Kitchen’s brand awareness and supporting the continued expansion of its global footprint to reach more pet parents.
The Company will continue to operate out of its offices in London as a standalone entity led by Lily’s Kitchen’s CEO, David Milner and the existing management team. Lily’s Kitchen’s employees, both junior and senior, who own a stake in the Company, will also be able to share the success.
“I created Lily’s Kitchen in the belief our pets deserved better, more natural food that would make them healthier. I was inspired to do this by my own dog, Lily, who was ill and is happily now nearly 17 years old,” says Henrietta Morrison. “I’m proud we have been able to bring the business this far and by working with Purina we will accelerate Lily’s Kitchen, becoming truly global so that pet owners worldwide can have access to really healthy, natural pet food. I have always believed passionately in growing the business by doing the right thing by our people, our consumers and the planet. We have created a brand that people and their pets really love. I’m so proud of what we have achieved and know the brand will be taken good care of in its next chapter and beyond.”
“We are greatly humbled to have been acknowledged and backed by L Catterton and now Nestlé Purina,” said David Milner. “From the ingredients we use in our recipes, to the relationships we have built with our partners, retailers and consumers, our Company remains committed to this award-winning formula for our loyal customers around the world. Our vision, purpose and values will always be at the heart of who we are and what we do.”
“Lily’s Kitchen has done a brilliant and unique job of creating a wonderful brand with its ethical approach to business. We are very excited to help bring the brand to the next level and to continue to make a positive impact,” said Calum Macrae, Regional Director, Northern Region, Nestlé Purina.
“We are proud to have partnered with Lily’s Kitchen over the last four and a half years to grow the business and provide more pets and pet parents access to natural and wholesome pet food of the highest quality,” said Michael Farello, Managing Partner, L Catterton Growth Fund. “We are excited to watch the company continue on its exciting trajectory.”
About Lily’s Kitchen
Founded by Henrietta Morrison in 2008 with the purpose of creating natural, wholesome pet food, Lily’s Kitchen has since grown from Henrietta’s kitchen table to reach the homes of loyal customers across 30 countries with over £85m in retail sales. After noticing a discernible lack of quality, natural and nutritional food options for her border terrier, Lily, Henrietta partnered with vets, nutritionists and farmers to create unique recipes of wholesome, natural ingredients. Today, those recipes – and many more – created the premium natural pet food category in the UK, and can be found in 6,000 stores around the world. Lily’s Kitchen holds the prestigious honour of having been awarded a Royal Warrant in 2019 and was the first pet food brand in the world to become a B Corp, a worldwide group of organisations using business as a force for good. For more information please visit lilyskitchen.co.uk/news.
About Nestlé Purina
Nestlé Purina PetCare believes that pets and people are better together and is committed to helping pets live longer, happier and healthier lives. For over 125 years, Purina has been one of the pioneers in providing nutritious and palatable products made to the highest standards of quality and safety. Purina’s passion for pets goes beyond the advancement of pet nutrition. In 2016 Nestlé Purina PetCare EMENA (Europe, Middle East, North Africa) launched 10 Purina in Society commitments to have a positive impact on pets and society, including promoting pet adoption, pets in the workplace and helping to reduce the risk of pet obesity. The Purina portfolio includes many of the best-known and best-loved pet foods including FELIX®, Purina ONE®, Gourmet® and Purina PRO PLAN®. A premiere global manufacturer of pet products, Nestlé Purina PetCare is part of Swiss-based Nestlé S.A., a global leader in nutrition, health and wellness.
About L Catterton
With approximately $20 billion of equity capital across seven fund strategies in 17 offices globally, L Catterton is the largest consumer-focused private equity firm in the world. L Catterton’s team of more than 190 investment and operating professionals partner with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad thought partnership network. Since 1989, the Firm has made over 200 investments in leading consumer brands. L Catterton was formed through the partnership of Catterton, LVMH, and Groupe Arnault. For more information about L Catterton, please visit www.lcatterton.com.