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Business Wire
4 days ago
- Business
- Business Wire
Eurazeo Enters Into Exclusive Discussions With INSPIRED PET NUTRITION Regarding the Sale of Its Stake in Ultra Premium Direct
PARIS & LONDON--(BUSINESS WIRE)--Eurazeo has entered into exclusive discussions with INSPIRED PET NUTRITION ('IPN'), the fast-growing international pet food company controlled by CapVest Partners LLP ('CapVest'), regarding the sale of Ultra Premium Direct ('UPD'), France's leading direct-to-consumer (D2C) online pet food company. Founded in 2013, UPD has established itself as a leading player in the French premium pet food market and is now recognised as the top direct-to-consumer (D2C) online brand in the segment, recognised for its exceptional customer experience and already serving over 285k active customers. UPD combines high-quality, veterinarian-developed products with a direct factory-to-consumer model, offering a unique premium yet affordable proposition. Leveraging its data-driven approach, the company is now building a powerful omnichannel strategy to further strengthen loyalty and engagement. Having announced the acquisition of Sopral last month, IPN's proposed acquisition of UPD will create a major independent and international branded pet food platform in Europe with leading brands in both the UK and France supported by world-class digital and manufacturing capabilities. Since its investment, Eurazeo has actively supported UPD's founders and management in strengthening its brand positioning, expanding its premium product range, and reinforcing its leadership team. Eurazeo also backed key initiatives in omnichannel strategy, organisation and Corporate Social Responsibility (CSR) enabling UPD to scale rapidly and solidify its market leadership with improved profitability. Under the terms of this agreement, Eurazeo, Eutopia (historical minority shareholder) and other minority shareholders would sell their entire stake in UPD. This deal again highlights Eurazeo's strategy of supporting ambitious and responsible companies, and its ability to build attractive corporate champions for strategic partners, while creating long-term value for its clients and shareholders. The finalisation of the transaction remains subject to the conclusion of the information and consultation process with the company's trade unions, as well as to approval from the competition authorities. It should be finalised in the fourth quarter of 2025. This new transaction, following the recent sales of Albingia, CPK and Cognigy, underscores the quality of Eurazeo's portfolio and its ability to deliver profitable exits. In total, exits completed or announced year-to-date for Eurazeo's balance sheet represent nearly €1.1 billion, or 14% of the portfolio, with valuations in line or above their carrying value. Arthur van Benthem, CEO of IPN, said: 'UPD has delivered impressive growth in both sales and profitability and represents a strong strategic addition to IPN. It brings with it a sophisticated, proven e-commerce platform with significant international growth potential, a rapidly expanding mono-brand store network, and another outstanding brand to our portfolio. The business is highly complementary to both IPN and Sopral. By combining UPD's direct-to-consumer strengths with Sopral's extensive manufacturing capabilities and IPN's broader network and customer base, we unlock powerful opportunities to accelerate our ambitious growth plans across Europe. We look forward to working with our expanding team to realise this potential.' Pierre Meignen, Head of Eurazeo Elevate added: 'We are very proud to have supported the founders and management team of UPD through every key stage of their development and to have stood by their side in creating a French leader in the pet food ecosystem. We thank IPN for the trust they have shown in UPD and are confident that this partnership will enable the company to embark on a promising new phase of growth. This potential transaction perfectly illustrates the Eurazeo strategy to back future European leaders in the Lower Mid-Market Buyout space.' ABOUT EURAZEO Eurazeo is a leading European investment group with €36.8 billion in diversified assets under management, including €27,5 billion on behalf of institutional and retail clients through its private equity, private debt, real estate and infrastructure strategies. The Group supports more than 600 mid-market companies, leveraging the commitment of its 400-strong workforce, its in-depth sector expertise, its privileged access to global markets through 13 offices across Europe, Asia and the United States, and its responsible approach to value creation based on growth. The company's institutional and family shareholding structure, and its solid financial structure, ensure its long-term viability. Eurazeo has offices in Paris, New York, London, Frankfurt, Berlin, Milan, Madrid, Luxembourg, Shanghai, Seoul, Singapore, Tokyo and São Paulo. Eurazeo is listed on Euronext Paris. ISIN: FR000121121 - Bloomberg: RF FP - Reuters: Eurazeo was advised by Rothschild & Co ABOUT EUTOPIA Eutopia is an investment firm focused on emerging brands with a purpose. Eutopia's investment thesis is rooted in the ongoing transformation of consumer behavior, marked by the rise of a new generation of brands that are redefining everyday products and services through the lens of ' better for you, better for society, better for the planet. ' For nearly 10 years, the team has partnered with over 30 companies, including Oh My Cream!, Spring, Insentials, Tediber, and Murfy, supporting them in scaling sustainably and strategically. Eutopia is a certified B-Corp and a mission-driven management company ABOUT IPN Headquartered in Thirsk, North Yorkshire, UK, IPN is best known as the UK dog food market leader with its high-quality natural dog meals and pet treats under the 'Harringtons', 'Butcher's' and 'Wagg' brands. With a strong commitment to natural, high-quality ingredients, IPN is dedicated to providing affordable nutritious pet food that supports the health and well-being of pets. IPN was acquired by international investment firm and buy-and-build specialist CapVest in 2020 and subsequently acquired Pet Food UK in 2021 along with its high quality and distinctively branded premium dog and cat pet food brands 'Aatu', 'Barking Heads' and 'Meowing Heads'. In August 2024, IPN acquired Butcher's Pet Care ('BPC'), the UK's leading wet pet food manufacturer. IPN was advised by Natixis Partners and Spayne Lindsay. ABOUT CAPVEST CapVest is a leading international private equity investor that partners with ambitious companies supplying essential goods and services to transform their businesses. As an active and patient investor, CapVest has established a strong record of success in delivering attractive returns by working closely with management in transforming the size and scale of its portfolio companies through a combination of organic and acquisition led growth. CapVest seeks to invest in highly resilient industries where the demand driver for the product or service is non-discretionary. Its core sectors include consumer staples, healthcare and essential services.
Daily Mail
22-04-2025
- Daily Mail
Mom and dad's jaw-dropping idea for family day out ends with handcuffs and jail
A California family landed themselves in handcuffs after deciding to go on a Target shoplifting spree, police say. On the night of April 16, a couple and their teenage son were caught on security cameras robbing a Target in Upland, California, according to the Upland Police Department (UPD). A shocking footage compilation shared by the department showed the family dispersing themselves throughout the store - snatching electronics, clothing and jewelry before they fled without paying. As they entered, the mother and son were seen hopping on electric mobility shopping carts to ride around Target and have their pick at what to take. Police received a call about a theft in progress, but the alleged culprits managed to leave the store before police could intervene. Video showed the moment the son cruised through the exit on an electric shopping cart as his father strolled next to him. His mother was then seen scurrying out after them, carrying several gray shopping bags jammed with unpaid-for items. But an officer saw the suspects frantically driving their white SUV through a residential neighborhood - making sudden turns to try and dodge the police. When the cop car finally caught up with the vehicle, the teen leaped out, as his parents allegedly told him to do, and sprinted away with some of the stolen merchandise. He attempted to escape authorities by running through someone's backyard, which only sparked greater efforts to track him down. 'We don't take someone running from us lightly, so a number of officers responded to the area, including our K9 and assistance from the San Bernardino County Sheriff's Department,' the UPD wrote. Meanwhile, body cam footage captured a snip of an officer's confrontation with the parents when he pulled them over. 'Don't lie to me. We already know. He saw it, we saw it all happen, who jumped out of the car and where is he going?' the officer said before arresting the pair. The teenager was soon track down and joined his parents in handcuffs, as the UPD posted on Facebook, and the getaway car was towed. Police confiscated at least 10 different pieces of clothing, including what appears to be outfits for a baby, a PlayStation controller and a basketball hoop. Pictured on top of the basketball hoop was a colorful electronic device that lights up with various designs such as a peace sign or a football. Even though they released information and video from the dramatic arrest, the suspects have not been publicly named and their faces have been blurred because the incident is still under investigation. In 2023, California saw a surge in shoplifting incidents from 2019, according to the Public Policy Institute of California. There were about 24,000 more instances of these kinds of thefts in 2023 than four years prior. According to the most recent available data from the California Budget and Policy Center, every 210 out of 100,000 Californians had shoplifted in 2022. This year, California Governor Gavin Newsom vowed to crack down on retail theft and property crime. State laws, which went to effect in January, allow officers to arrest suspects of shoplifting with probable cause, even if they did not witness the act themselves. The probation period for petty thefts and shoplifting was also doubled from one year to two. Additionally, those found guilty of robbing a store can be banned from the location for up to two years, according to the governor's office. If a California shoplifter is found with more than $950 worth of stolen items with the intent to sell them, they could face up to three years in prison. 'California's new laws tackle today's biggest emerging challenges head-on,' Newsom said in a December 2024 press release. 'Through partnership with the Legislature, we're strengthening public safety, building more housing, and providing more resources for our communities. 'These practical reforms protect what matters most while creating more opportunities for all Californians.'
Yahoo
03-04-2025
- Yahoo
NY cop cleared of criminality in shooting death of 13-year-old armed with pellet gun, AG rules
The police officer who shot and killed a 13-year-old in upstate New York during a robbery investigation last summer has been cleared by state investigators of criminal wrongdoing. New York Attorney General Letitia James's office released an investigative report Wednesday concluding that Utica Police Officer Patrick Husnay should not be charged with a crime for killing teen Nyah Mway on June 28, 2024. Mway and another unidentified teen were stopped by three police officers in Utica, NY, as the pair fit the description of two people wanted in an armed robbery in the area the night before, the report stated. Bodycam footage of the incident shows the 13-year-old running away from the officers — setting off a chase that would ultimately end in his death. As he was fleeing, Mway pointed what appeared to be a black handgun — but was really a pellet gun — at the pursuing Utica Police Officer Bryce Patterson. The officer said he could see the black barrel of the object pointing at his chest and believed that he was going to be shot and killed, the report stated. While at a full sprint, Patterson tackled Mway to the ground and struggled for the weapon, at which time officers Husnay and Andrew Citriniti caught up to the ongoing fight for what they believed was a handgun, the report stated. Officer Husney then leaned over and fired a single shot into the chest of Mway at close range, according to the report and bodycam footage. The young teen was taken to Wynn Hospital, where he was later pronounced dead. The attorney general also released a recording of a bystander's TikTok of the chase and shooting as part of the report, which shows the dramatic moment Mway is tackled and shot by the UPD officers. Additionally, James shared information on two armed robberies that the officers were investigating — in which victims said two Asian teenagers robbed them at gunpoint. Video from a June 12, 2024 robbery shows two apparent males in hoodies and face masks approach an unsuspecting victim on the street, with a person in a red sweatshirt whipping out what appears to be a handgun. The victim in that case was robbed of all his belongings and told cops the assailants were about 5'5' and that he could tell they were Asian 'because of their facial features, mainly the eyes,' according to the report. A second incident on June 27, 2024, saw two people fitting the same description robbing another victim using what appeared to be a handgun just a few blocks away from the previous incident. Mway and the other unidentified minor fit the description of the two perps wanted for the June 27 incident, according to James' report. During the police interaction on the fateful night, cops said Mway kept his hoodie over his head and was instructed by officers twice to keep his hands out of his pockets. The 13-year-old also sparked cops' suspicions by apparently 'pinning his arm to his waistband,' in an apparent attempt to conceal the pellet gun, according to the report. Mway was carrying a hyper-realistic pellet gun replica of a Glock 17 that featured the words 'Officially Licensed Product of Glock' with a company logo on the side of the piece, the report stated. James found that the cops were justified in using deadly force in the incident as it was reasonable for the officers to believe that their lives were threatened with a firearm.
Yahoo
03-04-2025
- Yahoo
Officials seek to identify driver near scene of crash that killed teen in Midvale
MIDVALE, Utah () — On Saturday, March 22, a while attempting to avoid another driver. Now, police are seeking the public's help in the investigation. The driver — identified as a student at Hillcrest High School — was pronounced dead at the scene. The passenger, a 19-year-old, was taken to a local hospital and was last known to be in critical condition, according to officials. On April 2, the Unified Police Department posted on to ask for help in identifying the driver or owner of a black Tesla that was in the area around the time of the crash. The crash happened near 750 East Fort Union Blvd, just after 12:45 p.m. on March 22. PREVIOUSLY: 17-year-old driver dead after crashing into parked semi-truck trailer, passenger in critical condition 'We believe the driver and/or vehicle may have information that could assist with the investigation of this tragic accident,' UPD said. A spokesperson with the department told that the driver is being sought because officials are hoping to get potential footage of the crash from the Tesla's cameras. 'The Tesla was seen exiting the ARI Diamonds driveway and turning westbound on Fort Union Blvd shortly before or after the incident,' UPD said. 'The vehicle appears to have a temporary tag.' According to the initial investigation, UPD said it appears that the teenage driver 'swerved to miss another vehicle and lost control on the wet roads,' after which the teenager's SUV crashed into a parked semi-truck trailer. The driver of the Tesla (or anyone with information) has been asked to call UPD at 801-840-4000 and reference case number CO25-23754. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Zawya
21-02-2025
- Business
- Zawya
South African pharmaceutical wholesaler UPD adds 42 electric vans to fleet
South Africa's United Pharmaceutical Distributors (UPD) launched 42 electric delivery vans with solar-powered refrigeration from start-up Everlectric on Thursday, 20 February 2025, beginning its transition to an electric fleet. Local startups are racing to offer such vehicles for local deliveries as retailers aim to achieve environmental, social and corporate governance (ESG) and emission-reduction targets. UPD, owned by the country's largest retail pharmacy group Clicks, will roll out the fleet of 42 Maxus eDeliver 3 panel vans in the provinces of Gauteng and Western Cape, said Trevor McCoy, managing executive of UPD, at the launch event. An additional 36 vans are earmarked for Gauteng later in the year, he added. Next year, the rollout will include coastal cities Gqeberha in Port Elizabeth and Durban in KwaZulu-Natal province. UPD has a fleet of 100 independently owned vehicles across the country and plans to convert all its diesel-powered vehicles into electric-powered vehicles, McCoy said. "As a leading pharmaceutical wholesaler in the country, it is our responsibility and contribution to make sure that we deliver healthcare efficiently and sustainably to our customers," McCoy said. The vans, manufactured by China's SAIC, are imported by Everlectric, which builds the refrigeration boxes locally to supply to UPD's independent drivers. Lender Investec is providing financing to the drivers. The vehicles are expected to cut about one ton of carbon dioxide per month each, with the entire fleet projected to save 2.4 million litres of diesel and reduce carbon dioxide emissions by 6.3 million kg over its lifespan, UPD said.
