Pixabay, pen paper

Private equity firm L Catterton has entered into a definitive agreement to sell Inspired Pet Nutrition (IPN) to funds managed by CapVest Partners LLP. Terms of the transaction were not disclosed.

IPN, best known for its dry dog food and pet treats under the Harringtons and Wagg brands, is a third-generation family enterprise in the United Kingdom.

“We are exceptionally proud of the success that IPN has achieved through our great partnership with L Catterton,” said Richard Page, IPN chairman. “By utilizing their extensive strategic, operational and industry expertise, we have laid a strong foundation to expand our business and quadrupled Harringtons’ market share under L Catterton’s ownership. In addition, we have made great strides on our sustainability journey, with IPN becoming the U.K.’s first carbon-negative pet food manufacturer of scale. We are excited to continue our strong track record of growth through our partnership with CapVest as we work to realize our vision of becoming one of the largest manufacturers of branded pet food across the U.K. and Europe.”

Over the years, L Catterton, which has U.S. headquarters in Greenwich, Conn., has made 13 investments in the global pet food category, according to officials, including Ainsworth Pet Nutrition, JustFoodForDogs, Lily’s Kitchen, Nature’s Variety and Wellness Pet Food.