Denmark’s BHJ has acquired Staughton Group, one of Australia’s leading pet food manufacturers, for $100 million.
Staughton owns Cool Off, a raw pet food producer, and Murray River Pet Food, which makes dry pet food and sells it under its brand and private labels.
Ridley Corporation, a major animal feed producer, was Staughton’s underbidder, reports the Australian Financial Review.
Staughton has recorded solid sales growth, with revenue reaching $156.9 million in 2022, up from $132.1 million in 2021. However, the company recorded a loss of $913,000 after paying large interest charges.
Established in 1969, BHJ sources and processes raw materials from Danish slaughterhouses and fish producers to produce pet food. The company is an international supplier of raw materials and ingredients for the food, pet food, feed, pharmaceutical, and energy industries.
Although BHJ was briefly listed on the Copenhagen Stock Exchange, it is now owned by The Lauridsen Group, an investment group headquartered in Iowa that focuses on animal health and food.
The company recently merged its proteins and stock ingredient division with another of its portfolio companies, Proliant, to create a new brand called Essentia Protein Solutions. This move left BHJ focuses solely on raw pet foods.
The deal is expected to close this month.