AlphaPet Ventures acquires leading organic premium pet food brand Herrmann's Manufaktur

Munich, 16^th February 2023:

AlphaPet Ventures, the leading digital brand platform for premium pet food in Europe, acquires the Herrmann's Manufaktur brand from Herrmann GmbH. The acquisition of the market leader in organic wet food strengthens AlphaPet in the further strategic expansion of its premium brand platform.

AlphaPet Ventures GmbH stands for the digitalisation of the pet food market as well as for the successful brand building and multi-channel distribution of premium pet food in Europe. AlphaPet premium pet food brands include among others Wolfsblut, Wildes Land and Müllers Naturhof in Germany and Arden Grange in the UK. With the acquisition of the established organic brand Herrmann's Manufaktur, AlphaPet's brand portfolio is complemented by the German market leader in the organic wet food segment, which is strategically important for AlphaPet.

The brand Herrmann's Manufaktur started in 2006 as an organic pioneer in Bavaria and has developed into the leading organic wet food brand in Germany in almost 17 years. AlphaPet exclusively acquires the Herrmann's Manufaktur brand, which enjoys great popularity among its loyal customers, especially due to its focus on organic raw materials, local production and high product quality. The production of the Herrmann's Manufaktur brand and the private label business will remain with Herrmann GmbH and its managing partner Erich Herrmann.

AlphaPet Ventures (www.alpha.pet) and the Herrmann's Manufaktur brand are united by a clear focus on high-quality premium pet food, sustainability and the vision of jointly feeding even more pets healthy food. Herrmann's Manufaktur as a leading organic wet food brand offers optimal conditions for future growth, to which AlphaPet will contribute greatly with its strong distribution network as well as its leading online distribution directly to end customers (D2C). The Herrmann's Manufaktur brand will be further developed independently under the umbrella of the AlphaPet Ventures Group, distribution to B2B partners will be taken over by AlphaPet's subsidiary Premium Pet Products GmbH, and the Group's digital expertise will be used to continue to grow across all channels.

As in AlphaPet Group's previous transaction, the acquisition is being financed by CVC as debt provider. AlphaPet Group's investor base includes among others, capiton, Reimann Investors and Venture Stars.

Marco Hierling, Founder and Managing Director of AlphaPet Ventures, on the acquisition: "Herrmann's Manufaktur is a fantastic, well established brand with a great team behind Erich Herrmann. With the acquisition of the brand, AlphaPet strengthens its position as the leading premium digital pet food platform in Europe and continues its growth path with a projected turnover of around 200 million euros in 2023. We will build on the existing and long-standing supplier and customer relationships and look forward to realising the great potential of the brand together with our partners."

Erich Herrmann, founder of Herrmann GmbH and the Herrmann's Manufaktur brand: "I see great potential for the Herrmann's Manufaktur brand through the structures of the AlphaPet Group. By handing over the brand, I can focus even more on the expansion of production, even better products and the private label business with Herrmann GmbH. I am convinced that this will allow us to optimally exploit the potential of both Herrmann GmbH and the Herrmann's Manufaktur brand."

AlphaPet was advised on the transaction by LutzAbel (Legal), Allen & Overy (Financing Legal), Deloitte (Financial) and Sonntag & Partner (Tax & Structure).

About AlphaPet Ventures

AlphaPet (www.alpha.pet) is the leading technology-driven brand platform for premium pet food in Europe with multi-channel distribution, digital brand building, end-to-end tech platforms and strong direct-to-consumer (D2C) business. This positioning has been achieved through organic growth and a consistent buy-and-build strategy, enabling AlphaPet to build a steadily growing European brand portfolio under its umbrella.
The acquisitions and mergers of recent years have demonstrated the great synergy potential of a digital platform. This strategy will be further advanced in the coming years to further accelerate the transition to healthy and sustainable pet food in Europe as a leading and technology-driven brand platform. Together, AlphaPet's subsidiaries and brands are driving digitalisation and digital brand building in the pet market with the vision of providing every pet with healthy food.

About Herrmann GmbH and the Herrmann's Manufaktur brand

Herrmann GmbH is a certified organic manufacturer of the highest quality dog and cat food, producing Herrmann's Manufaktur brand products and for private label customers. The company has been run by founder and owner Erich Herrmann for 17 years. The company from Glonn near Munich stands for high-quality organic products made by hand as well as for regionality and sustainability.

About capiton

capiton is an independent, owner-managed investment company that manages a total fund volume of over 1.6 billion euros. Currently, capiton AG has 21 medium-sized companies in its investment portfolio. capiton acts as an equity partner for management buyouts and growth financing of established medium-sized companies.

About Reimann Investors

Reimann Investors is the family office and group of companies owned by members of the Reimann family of entrepreneurs, who divested their stake in the former family business at the end of the 1990s. Reimann Investors focuses on investments in two areas: highly liquid capital market investments and direct investments in fast-growing digital companies in the digital commerce, FinTech and software-as-a-service (SaaS) sectors.

About Venture Stars

Venture Stars is a Munich-based venture capital fund focused on early-stage investments in innovative, digital B2C and B2B business models. Venture Stars was founded by Martin Junker, Florian Calmbach and Stefan Pfannmöller. The entrepreneurial team currently manages €100m in three funds. Venture Stars started as a company builder and therefore traditionally works very closely with the founders of its portfolio companies. Venture Stars' support therefore also goes beyond the invested capital and includes operational support on topics such as strategy, organisational development and financing.

Contact:
Moriz Jürgens
Landsberger Str. 234
80687 München
Mobile: +49 157 57949081
leon-moriz.juergens@alpha.pet