Pet Munchies, the St Albans based gourmet pet treat company, is gearing up for another year of solid growth following a successful 12 months of trading.
After arranging an invoice finance facility through us, the company secured a 55% sales increase during the last financial year. It follows a combination of new contract wins, product diversification and organic growth.
Established in 2008 by animal lover Suzanne Rothman, Pet Munchies was founded on the principle of providing premium quality meat and fish treats to dogs. During the last seven years, the company has expanded its product lines rapidly and now produces a total of 21 different animal treats. In March 2015, Pet Munchies launched a range of treats for cats.
The company's products are retailed in the UK through major pet store chains, Amazon, Ocado and on TV channel QVC. The addition of Morrisons and QVC France to its list of retailers along with the expansion of its cat treat line, is expected to drive growth rapidly in the coming months.
Suzanne Rothman, Director of Pet Munchies:
"I am thrilled with the success of Pet Munchies. I took the step of developing the business in 2008 after struggling to find any dog treats on the market for my pets that were natural and made of human-grade meat."
"I am passionate about animals and feel that it's very important to ensure our pets are fed good, high quality foods to help maintain their health. The success of Pet Munchies shows I am not alone in my views and that today's consumers are demanding natural, healthy products for their pets."
"In support of the company’s growth and product diversification, we have a £200,000 invoice factoring facility, designed to aid cash flow and fund growth."
"This facility is excellent and supporting our growth brilliantly. It has been a key tool in helping us maintain a healthy cash flow while the business continues to grow. We have to pay up front for most of our ingredients, but the facility stems the payment gap between these outgoings and customer receipts."
Julian Cassen, Royal Bank of Scotland Business Development Manager:
"I am pleased that the factoring facility is supporting Pet Munchies during this exciting period of growth. The company has gone from strength to strength in recent years and its popularity is growing amongst pet owners who are focused on providing natural food for their pets. We look forward to continuing our partnership with Suzanne as the company grows."
Security may be required. Product fees may apply.
ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED ON IT.