Butternut Box, a company that produces fresh dog food, has secured a debt financing facility of €75m+ (£63m+) from AI-driven private credit firm Liquidity.
The funding is set to enable Butternut Box to solidify its position in Europe with the development of a second manufacturing facility in Poland.
The London-based firm was founded in 2016, and has since expanded across the UK, Ireland, the Netherlands, Belgium, Germany and Poland.
Since inception, Butternut Box has raised over £380m, having most recently received a £280m investment from General Atlantic and L Catterton.
“Our mission has always been to get more dogs eating the fresh food they deserve,” said Kevin Glynn, co-founder of Butternut Box.
“Partnering with Liquidity will help us continue that mission by ensuring we are well positioned to support our existing markets, whilst helping to deliver health and happiness to even more dogs across Europe.”
The partnership marks Liquidity’s 10th significant transaction in Europe over the past 12 months, as part of an expansive portfolio of opportunities the firm is currently identifying across the region.
Ron Daniel, co-founder and chief executive of Liquidity, said: “Butternut Box has established itself as a fresh pet food leader through an unwavering commitment to quality, innovation, and growth,” he said.
“We’re proud to support Butternut Box as they increase market share by expanding manufacturing capacity in EMEA in support of continued growth.”
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