Rising pet ownership and the ‘humanisation’ trend creates perfect storm
With rising pet ownership, increased demand for ‘pawternity’ leave and the growing trend of ‘pet humanisation’, Fearless Adventures has seized an opportunity to invest in one of the UK’s most exciting pet sector startups, Pets Purest. The Manchester-based firm will offer six-figure capital investment as well as business support for ecommerce, digital marketing and talent sourcing, and will take a minority stake to support growth.
Demonstrating the near-perfect product-market fit that Fearless Adventures looks for in a partner, Pets Purest already has more than 500,000 loyal customers in its fast-growing base, with £6m in revenue for 2021. Totally in step with the times, its 100% natural treats & supplements--which are nutritional, chemical-free and made in the UK--promote active, healthy, and happy animals.
The deal will enable both companies to take a bite out of the £2.9bn UK pet food market, which is expected to grow 4.9% through 2026. Direct to consumer (“D2C”) specialist Fearless Adventures will use its best in class digital marketing services and talent recruitment team to build a D2C ecommerce platform for Pets Purest to scale beyond its existing Amazon channel.
David Newns, partner, Fearless Adventures said:
“As a dog owner, I love the products but as an investor, my partners and I really like the founders and the brilliant business they’ve built through the Amazon channel. They’re making healthy profits and have the drive and ambition to lead the business forward in a highly attractive sector. We’re excited to offer them access to high-quality talent and expertise for something they don’t yet have, which is D2C sales support, to really grow their business.”
Oli Bristowe, founder, Pets Purest, said:
“We’re on a mission to make pets happy, and want to become the most trusted natural pet care brand on the planet. We’re profitable and growing, so finding a partner wasn’t about finding money, it was an opportunity to team up with people to enjoy our growth journey with. We can really learn from successful entrepreneurs like David, Dominic and Charlie. And they’re Pets Purest customers, too, so are as passionate about the products as we are. We couldn’t have found a better partner.”
Rising Trend of Pet Humanisation
3.2m Brits have acquired a pet since lockdown, and there are now 34 million pets in the UK. The pets foods segment is expected to grow to more than £3bn by 2026. The ‘pet humanisation’ is helping to drive this growth. The commercialisation of human-like goods and services for animals, such as pet supplements offered by Pets Purest is a major driver behind the growth of this market. And this trend is growing the already significant acquisition appetite from private equity firms, making companies like Pets Purest increasingly attractive to investors like Fearless Adventures.
Husband and wife co-founders Oli and Evie Bristowe, who first met in primary school, started Pets Purest in 2017 because Evie’s family dogs suffered from itchy/dry skin. They discovered the only product which significantly helped was a natural product, Salmon Oil. Observing how effective it was and seeing how happy the pet was as a result led Oli and Evie to set about improving the lives of as many pets as possible through an ever-expanding range of natural health products.