BERKHAMSTED, UNITED KINGDOM — On Feb. 8, private equity firm Ashridge Capital announced that it has invested £2 million ($2.7 million) in Paleo Ridge, a premium raw dog food company based in the United Kingdom.
According to Paleo Ridge, it has grown by more than 100% in the last two years, with more than 20,000 customers in the United Kingdom.
“We are very excited to be partnering with Paleo Ridge and invest in a business that has demonstrated strong growth since inception,” said David Sherratt, founder and chief executive officer of Ashridge. “The brand is highly regarded and has developed a distinctive market position in a high-growth market and we look forward to supporting its ongoing expansion.”
Paleo Ridge’s dog food is formulated using human-grade, ethically sourced, free-range ingredients, without any grain or artificial additives.
“I am delighted to be working with Ashridge Capital, which shares our vision to be the United Kingdom’s most trusted brand for premium, high quality and high welfare, species appropriate pet food,” said Tyler Daly, chief executive officer of Paleo Ridge. “The investment will enable us to expand our manufacturing capacity, provide additional local employment opportunities and meet the strongly rising consumer demand for raw pet food.”
Coinciding with Ashridge’s investment, Paleo Ridge has named new chairman Ton Christiaanse, former chief executive officer of Vion and Brakes UK. Prior to Paleo Ridge, he worked for international companies, including Unilever and Sara Lee, and is currently chairman of Candle Shack and Country Range Group.
“I am looking forward to work alongside Tyler and Ashridge Capital to successfully grow Paleo Ridge further into various channels and geographies relevant to this fantastic contemporary brand,” Christiaanse. “Raw dog food is an exciting category and Paleo Ridge is well positioned to capture a significant share of the growing pet food market.”
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