Felleskjøpet Rogaland Agder (FKRA) and DSD have entered into an agreement where DSD invests in FKRA`s British subsidiary Fish4Pets (F4P). The purpose of the deal is that the parties will develop their focus on the market for pet food internationally.
“We are delighted to have entered into this agreement. In DSD, we have found a partner who can help strengthen F4P for further growth in an international market with great potential. These are two solid and locally anchored players who have seen each other,” says CEO of FKRA, Per Harald Vabø.
F4P sells marine-based food for dogs and cats to customers in over 35 countries, where China is the largest market. Production takes place in multiple locations, including FKRA`s factory in Hillevåg.
Together with its Chinese partner, F4P has also recently built a factory to produce pet food In China.
“This is an exciting new investment for DSD within our investment in the ocean sector. We think it is very satisfactory that the partnership with FKRA contributes to local, regional value creation, including getting the opportunity to develop F4P further internationally,” says Ingvald Løyning in DSD.
DSD is a family-owned investment company with a long history from 1855 that invest in four sectors: Sea, mobility, tourism, and health. Central to the company`s strategy are sustainability, regional development, and active ownership.
“F4P`s innovative business model and the company`s award-winning products fit well into our investment philosophy. We will invest in companies with growth potential that work for more sustainable solutions. F4P`s products are based on residual raw materials from the sea, and we see that the demand for more sustainable alternatives in pet food is increasing,” Løyning continues.
The agreement is based on issuing new shares in F4P, where DSD owns 24% after the new share issue, and FKRA`s ownership will be 75%.
F4P has already a solid market position in the United Kingdom, Norway, and China, which is a good starting point for further international growth.
CFO Siv Christensen in DSD will join the board of F4P, and she looks forward to contributing to further growth for the company.
“F4P has, through innovative products, hit a niche in the market. Sales of dog and cat food is a large and growing market. Many consumers focus on eating more sustainably produced food. In line with the increased humanization of pets, we believe that F4P is well-positioned to take a larger part of the market for pet food with fish as raw material,” says Siv Christensen.
Briefly about the companies:
Fish4Pets® is based and headquartered in Worcestershire, England. The company produces and sells animal feed in the premium segment and is behind the Fish4Dogs® and Fish4Cats® brands. See more: Fish4Pets®
Felleskjøpet Rogaland Agder is a cooperative company with the main purpose of working for increased profitability for the farmer through the sale of operating assets for agriculture in Rogaland, Agder and Vestland counties south of the Hardangerfjord. The group has a total of 500 employees. Felleskjøpet Rogaland Agder | Felleskjøpet Rogaland Agder (fkra.no).