Wilsons Pet Food, one of the longest-established companies in the sector, has secured a £1 million investment to accelerate growth in its current range, expansion into new product categories, and enhance its production capabilities.

Having achieved strong growth in recent years, the Ayrshire-based company will also look to bolster the team through further recruitment.

The funding is from the Investment Fund for Scotland managed by Maven Capital Partners and delivered by the British Business Bank.

The company specialises in cold-pressed dog food, frozen raw dog food, dog treats and supplements, sold directly on the Wilsons website and via retailers UK wide, including Just for Pets and Costco.

It has manufacturing facilities across two sites and runs the UK’s first dedicated cold-pressed production facility. This allows Wilsons to supply own label cold pressed dog food to a number of brands, from small independents to recognised and reputable retailers.

The combined facilities provide for 40,000 sq ft of operational space to service the needs of customers, allowing for production of an additional 16,000 tonnes per year.

The UK pet food market is estimated to be worth £4.1 billion, with the dog food sector accounting for around 48% of this alone, with the market as a whole expected to grow by over 14% over the next five years.

With greater transparency regarding ingredients and health benefits, owners continue to demand better quality food for their dogs.

The industry has seen a surge in premium and speciality dog food products, including organic, grain-free and natural options, and Wilsons regards itself as well-placed to service this growing customer trend.

It has recently completed a rebrand across its entire range of natural meals and treats.Rob Stevenson, investment manager at Maven, said: “Wilsons has achieved impressive organic growth to date and has an exciting pipeline of near term opportunities across its diverse range of sales channels.”

Mr Stevenson met managing director Craig Wallace through Maven’s ‘Meet the Investor’ clinics, which offer 1-2-1 sessions to connect with entrepreneurs across Scotland who encounter challenges in accessing growth capital, or for those who simply want to find out more about the Investment Fund for Scotland and Maven. 

These clinics offer accessibility for founders and management teams, providing support, guidance and feedback to assist them in accessing finance for growth.

Mr Wallace said: “With this incredible backing, we are more excited than ever to move forward with our growth plans on our journey to become the UK’s favourite dog food.”

Sarah Newbould, senior investment manager, nations and regions investment funds, at the British Business Bank, said: “The Investment Fund for Scotland was created to support ambitious businesses like Wilsons that contribute to economic growth and job creation.”

This marks the ninth investment made by IFS Maven Equity Finance. Businesses previously backed by the Fund include 3D printed micro-tumour specialist, Carcinotech, premium Indian ready meals business, Praveen Kumar and marketing technology platform, Triyit.

The £150m IFS covers the whole of Scotland and provides loans from £25,000 to £2m and equity investment up to £5 million to help a range of small and medium sized businesses to start up, scale up or stay ahead.

The purpose of IFS is to drive sustainable economic growth by supporting innovation and creating local opportunities for new and growing businesses across Scotland.

IFS will increase the supply and diversity of early-stage finance for smaller businesses in Scotland, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.