Nutriscience, a petfood specialist that manufactures and sells petfood, notably under its own brands Nutrivet and Physyo, is looking for a buyer. The receiver, CBF Associés represented by Maître Thibaut Patard-Piedmont, have launched a call for tenders, with the deadline set at June 28th, 2024.
Since its creation in 2004, Nutriscience has been manufacturing and selling petfood and continues to innovate and improve the composition of its products to ensure that they are of the very highest quality and adapted to the carnivorous animals they are intended for. It has significantly expanded its distribution network. Today it manufactures, packages and retails food for consumption by animals (dogs and cats) in the premium market sector. It focuses on including a high proportion of animal protein in its compositions, unlike its competitors on the market. Nutriscience is therefore the leader in cereal-free products with high levels of animal protein (representing 80% of its total sales revenue).
It markets these products under three of its own brand names: its historic brand Nutrivet, and the brands INNE and Physyo, through traditional “bricks and mortar” distributors (47% of its sales revenue comes from major food retailers) or e-commerce websites. Its products are also distributed under retailer own-brands on behalf of specialist retailers.
Following a major structuring phase that allowed it to build and finance its manufacturing base, but also reference its Nutrivet products internationally and with key actors in the e-commerce sector including ZooPlus, Amazon, and Cdiscount, in 2023 the company launched an ambitious development phase, the objective being to double sales revenue within 5 years. In 2023 this latter stood at 13 million Euros.
For that it can depend on a team of 48 strong, ambitious employees. It also has a factory with 9500m2 of floorspace in Agen, which it moved into at the beginning of 2023, and offices in Toulouse.
Regrettably, badly impacted by the inflationary crisis which has led to higher prices for the meat products on which it depends, the company has seen its gross profit margins fall. This fall has been accentuated by a rise of up to 50 % in its main external expenses (notably packaging and transport) and significant internal restructuration costs. At the same time, increases in sales revenue have been slower than expected.
Today, although the company has been able to rebuild 90 % of its profit margins and has broken even thanks to measures that have been put into place and the commitment of its staff, it faces significant cash-flow issues which have led it to apply to be placed into receivership.
It is now seeking a buyer. Under the terms of the call for tender published by its official receiver, the deadline for offers has been set at 12 p.m. on June 28th, 2024.
A takeover opportunity that should be studied with interest in a buoyant market. As a matter of fact, the petfood sector has experienced continuous growth over the last few years, notably down to an increase in the number of pets and the food budgets that are allocated to them.
Practical information
Deadline for offers: June 28, 2024 at 12p.m.
For more information and/or to access the data room, please contact:
Maître Thibaut Patard-Piedmont / Mr. Alexis Dupuis
58 rue de Saint-Genès – 33000 Bordeaux
05.57.59.09.56 / Fax: 05.57.59.12.43
E-mail: adupuis@cbfassocies.com
