Private equity firm Piper has invested £33m for a significant minority stake in Omlet, the fast-growing, online-exclusive pet accessories brand.
Omlet is on a mission to be the world’s leading brand of premium, direct-to-consumer pet care products, enhancing the pet ownership experience for owners and pets alike.
This is Piper’s fourth pet investment, having invested in Forthglade, Barking Heads and Bruce’s.
Onlet was founded in 2004 by James Tuthill, Johannes Paul, William Windham and Simon Nicholls, who met at the Royal College of Art in London. In their final year, they developed the Eglu, a revolutionary new chicken coop, which makes raising chickens in any backyard easy and fun.
The Eglu has won numerous awards, been exhibited around the world and is even part of the permanent collection of the Victoria & Albert Museum.
Over 125,000 Eglus have been sold to date and they have hosted broadcaster Chris Evans’ feathered friends, Bake Off winner Nadiya Hussein and actor John Cleese.
Omlet’s chicken products quickly expanded and the product offering evolved to cover other major pet categories including dogs, cats and small animals.
The company is based in Banbury, Oxfordshire and employs over 60 people.
With sales expected to reach £40m this year, Omlet is well positioned to capitalize on a number of key consumer trends that have driven the growth of the £250bn global pet industry – heightened interest for pet ownership lifestyles), the resulting continued humanization of pets and premiumization of the pet category.
These long-term global trends have helped fuel Omlet’s growth and enabled the company to use its bespoke e-commerce platform to reach global audiences: one-third of sales come from the UK, nearly 40% from Europe and a quarter from the United States.
James Tuthill, co-founder of Omlet, said: “We are extremely proud of what we have achieved so far with Omlet. Simon, Will, Hanns and I have loved every minute of this journey and believe Piper is the perfect partner to work alongside us as we achieve our shared ambition to make Omlet the world’s leading premium brand for pets.
Rory Gibbs, Piper’s Chief Investment Officer, said: “We are delighted that the Omlet team has chosen Piper as their preferred partner and are excited about the growth opportunities the company has identified, in an industry we understand. good. Their unique and thoughtful product designs are highly praised by customers around the world. We look forward to supporting the team and look forward to working again with Don Henshall, former CEO of Farrow & Ball, who will join the company as Chairman.