A returning North East quantity surveyor is looking to take a bite out of the online dog food market after completing his first business acquisition.
As part of moving back to the region from Newcastle in Australia, Phil Butler had been looking to buy a business to provide an additional income stream for him and his wife Lynsey.
After looking at a number of options, Phil identified online dog food retailer Angell Petco as his primary target, which had been put up for sale by founders Robert and Jill Angell as part of their retirement plans.
Having returned to the UK in the spring, Phil and Lynsey have now completed the acquisition of the business, with Lynsey taking on responsibility for its day-to-day operations.
Ayden de Beer, corporate finance executive at RMT Accountants & Business Advisors, has been working with the couple on all aspects of the acquisition after the firm was recommended to him, while Anna McGill, partner in the commercial department at Gordon Brown Law Firm, provided legal advice.
Phil Butler says: “Having previously run business units for my employers, I was keen to take on my own company when we came home and Angell Petco fit the bill perfectly.
“We’re building our brand offering on providing the sort of high-quality products that we’d be happy to give to our own dog at the best possible prices, and we think it’s an idea that our fellow dog owners will buy into.
“Angell Petco already has strong revenue streams from a loyal customer base, and we feel there were opportunities to make improvements in the business’s structure and operations that will help it do even better in the future.
“We’re already looking at ways to enhance our customer acquisition process, website and marketing activity, and are aiming to grow the business in the coming years, with new jobs to follow as we do.
“RMT’s support in getting this deal done so quickly has been absolutely fantastic and their proactive, practical approach towards helping us get the right operational structures in place has been invaluable.”
Ayden de Beer at RMT Accountants adds: “Phil has a very clear idea of how he wants to see Angell Petco develop and a very firm grip on the financial and operational steps he needs to take to make this happen.
“We’re very pleased to have helped him make this acquisition and look forward to seeing the business thrive.”
Anna McGill at Gordon Brown Law Firm says: “We’re delighted to have helped Phil and Lynsey complete this deal, and wish them all the best in putting their plans for the business into action.”