CapVest and Parquest Agree Terms on IPN's Acquisition of Sopral
The transaction is subject to customary regulatory approvals and closing conditions. Financial terms have not been disclosed.
Based in Pléchâtel, Brittany, France, Sopral is a leading manufacturer of branded premium dry petfood with a comprehensive range of high-quality nutritional solutions, including Pro-Nutrition Prestige, Pure Life and Protect brands. Sopral has a strong footprint and reputation in France and a fast growing online and international market presence in over 50 countries around the world. Employing over 130 people, the company operates a state-of-the-art manufacturing facility totalling 13,400 square metres and is known for its advanced in-house R&D capabilities.
Arthur van Benthem, CEO of IPN, said: 'Sopral is an excellent and growing business, with a great team, leading brands and outstanding capabilities as a manufacturer of superior-quality pet food. This highly complementary strategic combination marks a significant milestone for IPN and provides us with a state-of-the-art manufacturing, logistics and sales platform to grow and realise our ambitious growth plans in the European market. We look forward to working with the Sopral team to build on their significant successes to date.'
Matthew Fargie of CapVest, said: 'Following on from the acquisition of Butcher's last year, Sopral is another great addition to the IPN platform, creating significant capability and scale to underpin IPN's growth in Europe. The acquisition will unlock a number of new opportunities for organic and acquisition-lead growth and is a great example of CapVest's passion for building strong, differentiated global companies through significant investment in people, technology, innovation, and capabilities.'
Thomas Babinet, Partner at Parquest, said: ' When we invested in Sopral in 2018, our ambition was to unlock the company's full potential together with the management team led by Yannick Guého. Collectively, we have transformed a quality-focused manufacturer into a premium brand, firmly positioned in high-growth markets. We revamped the flagship brands, strengthened the distribution network, launched an e-commerce platform, and doubled production capacity. We would like to warmly thank Yannick and his team for their unwavering commitment throughout this journey.'
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. The firm 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.
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.
IPN were advised by Natixis Partners and Spayne Lindsay.
About Parquest
Founded in 2002, Parquest is a recognised private equity player in France. Parquest supports SMEs and their management teams in implementing ambitious development projects in France and abroad. For over 20 years, Parquest has contributed to the development of market-leading companies by supporting them over the long term.
Parquest was advised by Amala Partners.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
19 minutes ago
- Yahoo
Europe and China agree to take action on climate change during tense summit
China and the EU have issued a joint call to action on climate change during a tense bilateral summit in Beijing riven with major disagreements over trade and the war in Ukraine. The two economic giants issued a joint statement urging more emissions cuts and greater use of green technology and affirming their support for the Paris Climate Agreement, as well as calling for strong action at the upcoming Cop30 climate summit in Brazil. 'In the fluid and turbulent international situation today, it is crucial that all countries, notably the major economies, maintain policy continuity and stability and step up efforts to address climate change,' the joint statement said. The climate agreement was a silver lining on a stormy day when European leaders demanded a more balanced relationship with Beijing in talks with President Xi Jinping. They highlighted trade in their opening remarks, calling for concrete progress to address Europe's yawning trade deficit with China. 'As our co-operation has deepened, so have the imbalances,' European Commission president Ursula von der Leyen said. 'We have reached an inflection point. Rebalancing our bilateral relation is essential. Because to be sustainable, relations need to be mutually beneficial.' Expectations had been low before the talks, initially supposed to last two days but scaled back to one. They come amid financial uncertainty around the world, wars in the Middle East and Ukraine, and the threat of US tariffs. Neither the EU nor China is likely to budge on key issues. European Council president Antonio Costa called on China to use its influence over Russia to bring an end to the war in Ukraine — a long-running plea from European leaders which is likely to fall again on deaf ears. Mr Xi called for deeper co-operation between China and Europe to provide stability in an increasingly complex world. Both sides should set aside differences and seek common ground, he said, a phrase he often uses in relationships like the one with the EU. Beijing is willing to strengthen co-ordination on climate and make greater contributions to addressing climate change, he said, but he pushed back against EU restrictions on Chinese exports. 'We hope the EU will keep its trade and investment markets open, refrain from using restrictive economic and trade tools and provide a good business environment for Chinese companies to invest and develop in Europe,' he said, according to state broadcaster CCTV. Besides trade and the Ukraine war, Ms von der Leyen and Mr Costa were expected to raise concerns about Chinese cyberattacks and espionage, its restrictions on the export of rare earth minerals and its human rights record in Tibet, Hong Kong and Xinjiang. The EU, meanwhile, has concerns about a looming trade battle with the US. Beijing's stance has hardened on the EU, despite a few olive branches, like the suspension of sanctions on European legislators who criticised Beijing's human rights record in Xinjiang province, where it is accused of a widespread campaign of repression against the Uyghurs. Like the US, the 27-nation EU bloc runs a massive trade deficit with China — around 300 billion euros (£260 billion) last year. It relies heavily on China for critical minerals and the magnets made from them for cars and appliances. The EU has imposed tariffs on Chinese electric vehicles to support its car makers by balancing out Beijing's heavy subsidies. China would like those tariffs revoked. The rapid growth in China's market share in Europe has sparked concern that Chinese cars will eventually threaten the EU's ability to produce its own green technology to combat climate change. Business groups and unions also fear that the jobs of 2.5 million car industry workers could be put in jeopardy, as well those of 10.3 million more people whose employment depends indirectly on EV production.
The Hill
20 minutes ago
- The Hill
Trump's new model to support Ukraine is a win-win
From the start, Ukraine's defense against Russia's full-scale invasion has been underpinned by a robust commitment from its Western partners. The Biden administration's pledge to support Ukraine 'as long as it takes' promised a sustained flow of military and financial aid directly from Washington. This 'direct donor' model was key to Ukraine's initial resilience, providing essential weaponry from U.S. stockpiles. Biden's approach primarily involved direct transfers from U.S. weapons inventories, prioritizing speed and ensuring that Ukraine received vital equipment quickly to counter Russian aggression. The American government provided extensive amounts of equipment, from air-defense missiles to artillery rounds and armored vehicles, directly to Kyiv. Now, under President Trump, the paradigm is shifting. The U.S. is transitioning from a direct donor to a 'strategic supplier,' where European allies purchase American weapons for Ukraine at their own expense. While this reorientation marks a significant change, it is far from the worst-case scenario for Ukraine. Instead, it represents a pragmatic and potentially more sustainable evolution of transatlantic burden-sharing, securing critical capabilities for Ukraine while invigorating the U.S. defense industrial base and recalibrating the nature of allied support. Support is still 'as long as it takes' but also 'at the others' expense.' This marks a departure from the traditional post-World War II donor-recipient model, particularly within the NATO alliance, towards a more transactional 'America First' approach. Future U.S. engagement in global security will likely be contingent upon tangible economic benefits and direct cost-sharing from allies. Such a shift could lead to a more predictable, albeit less altruistic, framework for security cooperation, where allies are compelled to demonstrate their commitment through direct financial contributions. This policy reorientation accelerates European strategic autonomy. While the immediate effect is Europe paying for U.S. weapons, the long-term implication is a forced impetus for greater European defense integration and self-sufficiency. European nations have already been increasing their defense spending and proactively planning for a future with less guaranteed U.S. aid. This new model, by making U.S. weapons available for purchase, encourages Europe to develop its own robust procurement mechanisms and potentially expand its own defense industrial base. Ukraine's most pressing and enduring need remains robust air defense against Russia's escalating missile and drone attacks. The U.S.-made Patriot air-defense system is critical, as it is one of the few systems capable of intercepting high-speed ballistic missiles. These systems are vital for protecting civilian infrastructure and population centers, which have been subjected to relentless Russian bombardment. A critical strategic reality for Ukraine is that not all American weapons are equally replaceable by European alternatives. While Europe is ramping up its own artillery production, the Patriot system's unique counter-ballistic missile capability makes it a requirement that only the U.S. can provide at scale. Europe, at the same time, has demonstrated a clear willingness and increasing capacity to shoulder a greater share of the burden. The European Union has already provided €165 billion in financial assistance and has launched an €800 billion Defense Readiness Plan. Frozen Russian sovereign assets may be used to finance what Ukraine needs. The shift to a foreign military sales model is explicitly intended to invigorate the U.S. defense industrial base. By integrating 'exportability features' into defense systems during the design phase, the U.S. seeks to advance its competitiveness abroad and potentially lower unit costs for both America and its allies. While the foreign military sales process has historically been slow and plagued by delivery backlogs, the new model offers a potential solution. Consistent, large-scale orders from European allies could provide the long-term contract certainty that the U.S. defense industry requires to invest significantly in surge capacity and overcome challenges. This transforms what was previously a 'drain' on American stockpiles, requiring replenishment at taxpayer expense, into a sustained stimulus for U.S. manufacturing, aligning with 'America First' economic principles. This shift is not merely about burden-sharing; it is about recapitalizing and modernizing the U.S. defense industrial base. While immediate fixes for current shortages remain challenging, this strategic reorientation creates a more sustainable industrial ecosystem. Trump's recent rhetoric marks a notable change from his earlier stance, which often appeared conciliatory toward Vladimir Putin. He has recognized that Russia, not Ukraine, is the core problem in negotiations, even threatening tariffs and sanctions on Russia and its trading partners if a peace deal is not reached within 50 days. The reality that Putin is not amenable to a quick 'deal' is now clear. There is now a crucial political opening for continued support to Ukraine, even if the funding mechanism changes. The narrative that Trump desires Ukraine's fall has been refuted. Instead, Trump is committed to ending the war on terms that align with his administration's interests. This represents a significant psychological advantage for Ukraine, as it lessens the fear of a complete U.S. abandonment.
Business Wire
20 minutes ago
- Business Wire
Vir Biotechnology Announces First Patient Dosed in Phase 1 Clinical Trial of EGFR-Targeting PRO-XTEN™ Dual-Masked T-Cell Engager VIR-5525 for the Treatment of Solid Tumors
SAN FRANCISCO--(BUSINESS WIRE)--Vir Biotechnology, Inc. (Nasdaq: VIR) today announced that the first patient has been dosed in the Company's Phase 1 clinical trial evaluating VIR-5525, an investigational dual-masked T-cell engager (TCE) targeting EGFR (epidermal growth factor receptor). VIR-5525 will be evaluated for the treatment of a variety of EGFR-expressing solid tumors in areas of high unmet need such as non-small cell lung cancer (NSCLC), colorectal cancer (CRC), head and neck squamous cell carcinoma (HNSCC), and cutaneous squamous cell carcinoma (cSCC). The Phase 1 clinical trial (NCT06960395) is a first-in-human open-label, non-randomized study designed to assess the safety, pharmacokinetics, and preliminary anti-tumor activity of VIR-5525 as a monotherapy and in combination with pembrolizumab. VIR-5525 is Vir Biotechnology's third dual-masked TCE in clinical trials. It incorporates the Company's clinically validated in-licensed PRO-XTEN™ masking technology, which is designed to enable the selective activation of the TCEs in the tumor microenvironment, mitigating damage to healthy cells and reducing toxicity. EGFR is a clinically validated target known to play a key role in cancer. 1 Although EGFR-targeting therapies are available, they often face limitations due to the development of resistance mechanisms 2 and high toxicities associated with treatment. 3 'We are excited to bring our third PRO-XTEN™ dual-masked T-cell engager VIR-5525 to the clinic as we further our mission of transforming the lives of people living with hard-to-treat solid tumors,' said Marianne De Backer, Ph.D., MBA, Chief Executive Officer, Vir Biotechnology. 'This achievement is a testament of Vir Biotechnology's commitment to advancing innovative therapies that address substantial unmet needs in oncology.' 'EGFR has been well characterized as a key oncogenic driver and a marker of poor prognosis in cancer. Traditional therapies have significant limitations, creating a substantial unmet need for highly efficacious and well-tolerated options,' said Mark Eisner, MD, MPH, Chief Medical Officer, Vir Biotechnology. 'VIR-5525 harnesses the anti-tumor power of T-cell engagers with a dual-masking approach designed to unlock an expanded therapeutic index. We look forward to evaluating the potential of this clinical candidate in our Phase 1 trial.' The first patient dosing of VIR-5525 triggers a $75 million milestone payment as part of the Company's 2024 exclusive worldwide license agreement with Sanofi for the PRO-XTEN™ platform and clinical-stage T-cell engagers. This anticipated milestone payment has been held as restricted cash since the transaction closing and was excluded from the Company's $1.02 billion in cash, cash equivalents and investments reported as of March 31, 2025. The payment will be recognized as a research and development expense in the third quarter of 2025. Dose escalation continues for Vir Biotechnology's dual-masked TCEs VIR-5818 (targeting a variety of HER2-expressing solid tumors) and VIR-5500 (targeting PSMA in metastatic castration-resistant prostate cancer). Initial Phase 1 data presented in January 2025 showed compelling early clinical response signals and promising safety profiles for both clinical candidates in heavily pretreated patients. The Company is advancing multiple preclinical dual-masked TCEs against clinically validated targets with potential applications across a variety of solid tumors with high unmet need. These undisclosed candidates integrate the PRO-XTEN™ masking technology with novel TCEs discovered and engineered using Vir Biotechnology's antibody discovery platform and the Company's proprietary dAIsY™ (d ata AI s tructure and antibod y) artificial intelligence engine. About VIR-5525 T-cell engagers (TCEs) are powerful anti-tumor agents that can direct the immune system, specifically T-cells, to destroy cancer cells. VIR-5525 is an investigational dual-masked TCE currently being evaluated in an open-label, non-randomized Phase 1 clinical trial (NCT06960395) designed to assess the safety, pharmacokinetics and preliminary efficacy of VIR-5525 alone or in combination with pembrolizumab. VIR-5525 combines a bispecific EGFR and CD3 binding TCE with the PRO-XTEN™ masking technology. The PRO-XTEN™ masking technology is designed to keep the TCEs inactive (or masked) until they reach the tumor microenvironment, where tumor-specific proteases cleave off the mask and activate the TCEs, leading to killing of cancer cells by T-cells. By confining the activity exclusively to the tumor microenvironment, we aim to circumvent the traditionally high toxicity associated with unmasked TCEs and increase their efficacy and tolerability. Additionally, the mask is designed to help drug candidates stay in the bloodstream longer in their inactive form, allowing them to better reach the site of action and potentially allowing for less frequent dosing regimens. About Vir Biotechnology, Inc. Vir Biotechnology, Inc. is a clinical-stage biopharmaceutical company focused on powering the immune system to transform lives by discovering and developing medicines for serious infectious diseases and cancer. Its clinical-stage portfolio includes programs for chronic hepatitis delta and multiple dual-masked T-cell engagers across validated targets in solid tumor indications. Vir Biotechnology also has a preclinical portfolio of programs across a range of infectious diseases and oncologic malignancies. Vir Biotechnology routinely posts information that may be important to investors on its website. Vir Biotechnology has exclusive rights to the PRO-XTEN™ masking platform for oncology and infectious disease. PRO-XTEN™ is a trademark of Amunix Pharmaceuticals, Inc., a Sanofi company. References: 1 Sigismund S, Avanzato D, Lanzetti L. Emerging functions of the EGFR in cancer. Mol Oncol. 2017 Nov 27;12(1):3–20. 2 Hrustanovic G, Lee BJ, Bivona TG. Mechanisms of resistance to EGFR targeted therapies. Cancer Biol Ther. 013 Jan 28;14(4):304–314. 3 Zhao Y, Cheng B, Chen Z, Li J, Liang H, Chen Y, Zhu F, Li C, Xu K, Xiong S, Lu W, Chen Z, Zhong R, Zhao S, Xie Z, Liu J, Liang W, He J. Toxicity profile of epidermal growth factor receptor tyrosine kinase inhibitors for patients with lung cancer: A systematic review and network meta-analysis. Crit Rev Oncol Hematol. 2021 Apr; 160:103305; Liu T, Jiang S, Teng X, Zhong L, Liu M, Jin Y, Dong M. A comparison of panitumumab and cetuximab in the treatment of KRAS wild-type metastatic colorectal cancer: a systematic review and meta-analysis. Immunopharmacol Immunotoxicol. 2023 Feb; 45(1):1-9. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as 'should,' 'could,' 'may,' 'might,' 'will,' 'plan,' 'potential,' 'aim,' 'expect,' 'anticipate,' 'promising' and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements regarding: the therapeutic potential of VIR-5525, both as a monotherapy and in combination with pembrolizumab, as a treatment for a variety of EGFR-expressing solid tumors in areas of high unmet need, and Vir Biotechnology's belief that VIR-5525 and the PRO-XTEN™ masking technology can circumvent the traditionally high toxicity associated with unmasked TCEs and unlock an expanded therapeutic index; Vir Biotechnology's preclinical and clinical development plans and expectations for its TCE assets, including protocols for and enrollment into ongoing and planned clinical studies, potential dosing regimens, target endpoints and data readouts; Vir Biotechnology's delivery and recognition of the $75 million milestone payment pursuant to the 2024 exclusive worldwide license agreement with Sanofi; Vir Biotechnology's strategy and plans; and any assumptions underlying any of the foregoing. Many factors may cause differences between current expectations and actual results, including, without limitation: unexpected safety or efficacy data or results observed during clinical studies or in data readouts, including the occurrence of adverse safety events; risks of unexpected costs, delays or other unexpected hurdles; challenges in accessing manufacturing capacity; clinical site activation rates or clinical enrollment rates that are lower than expected; the timing and outcome of Vir Biotechnology's planned interactions with regulatory authorities, as well as general difficulties in obtaining any necessary regulatory approvals; successful development and/or commercialization of alternative product candidates by Vir Biotechnology's competitors, as well as changes in expected or existing competition; Vir Biotechnology's use of artificial intelligence and machine learning in its efforts to engineer next-generation proteins and in other research and development efforts; geopolitical changes or other external factors; and unexpected litigation or other disputes. In light of these risks and uncertainties, the events or circumstances referred to in the forward-looking statements may not occur. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical studies may not be indicative of full results or results from later-stage or larger-scale clinical studies and do not ensure regulatory approval. The actual results may vary from the anticipated results, and the variations may be material. You are cautioned not to place undue reliance on any scientific data presented or these forward-looking statements, which are based on Vir Biotechnology's available information, expectations and assumptions as of the date of this press release. Other factors that may cause Vir Biotechnology's actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Vir Biotechnology's filings with the U.S. Securities and Exchange Commission, including the section titled 'Risk Factors' contained therein. Except as required by law, Vir Biotechnology assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
