Scholtus Group Holding B.V. ("Scholtus"), a leading supplier of dog and cat treats in Europe, Global Pet Products Holding ("GPP"), a investment firm active in the pet industry and ING Corporate lnvestments B.V. ("ING Cl"), a 100% subsidiary of ING Bank N.V., announce that GPP and ING Cl acquired all the shares in Scholtus and that Jan Smulders, one of the owners of GPP, will remain to be the genera! manager of Scholtus.
Since 2007 Scholtus has more than tripled its revenues through autonomous growth. In addition to this Scholtus accelerated its growth via the 2011 acquisition of Praline Petfood, a leading supplier of snacks and treats. In 2013 GPP joined Scholtus as shareholder and over the last years Scholtus invested heavily in the extension of the production capacity ending with the upgrading of the IT systems which was finished last year.
The acquisition of Scholtus by GPP and ING Cl significantly strengthens the business and facilitates the next stage expansion of the firm by stepping up the pace for new product concept introductions and accelerating the expansion in new distribution channels.