LONDON — Kormotech has established Kormotech Ventures, a new arm that will focus on supporting innovative pet care companies in Europe and the United States. The new arm will operate as a stand-alone company and will be headquartered in London.
Kormotech Ventures will provide companies with early-stage investments to help foster the pet industry’s growth. Kormotech’s core business will focus on its flagship brands with expansions throughout Central and Eastern Europe. According to Rostyslav Vovk, chief executive officer of Kormotech, the company will maintain its principal values of agility and openness through the new venture.
“As we continue to grow our core business, we want to ensure the strong entrepreneurial spirit that inspired the founding of Kormotech 20 years ago and ultimately achieve leading positions in our strategic markets,” Vovk said.
Kormotech Ventures will aim to incubate and scale innovative pet industry companies, developing the “next generation” of products that combine nutrition, technology and leading talent to help support pets and their parents.
Kicking off the venture, the new arm has already acquired a majority stake in Rocketo, a brand of organic, air-dried dog food. Leveraging an omni-channel distribution strategy, Rocketo hopes to scale in the UK market. The brand is also participating in the Future Brands program at Sainsbury’s.
“As a family-owned business, we are committed to adding value to our partners by sharing our manufacturing and supply chain expertise and the potential of our industry-leading talent, which will be shared at the Kormotech Ventures level,” Vovk said.
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