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Transaction Announcement

Houlihan Lokey Advises Lily's Kitchen

Houlihan Lokey is pleased to announce that Lily's Kitchen, a portfolio company of L Catterton, has been acquired by Nestlé Purina PetCare. The transaction was signed and closed on 31 March 2020.

Established 12 years ago in founder Henrietta Morrison’s kitchen in London, Lily’s Kitchen has become an internationally recognised £85 million retail brand offering natural recipes for dogs and cats across 6,000 stores in 30 countries. Particularly popular among younger pet owners and millennials, the pioneering brand was awarded the Royal Warrant from HRH The Prince of Wales last year.  

Premium natural food represents one of the fastest growing segments in the pet food category, accounting for 6% of total pet food with growth of 10%.

With the backing of L Catterton, Lily’s Kitchen has recently expanded into the Middle East and Asia and already has a growing presence in France, Spain, Italy, Netherlands, Switzerland, and Germany. Lily’s Kitchen will continue to be run as a stand-alone business from its base in Fitzrovia, London. 

This transaction underlines the trends of humanisation and premiumisation within the pet food market that have been growing for some time now. Following recent successes involving Butternut Box, Tails.com, DogBuddy, I and love and you, Natures Menu, Pet Supplies Plus, and Manna Pro, this transaction reinforces Houlihan Lokey's leading global franchise in the pet industry, as well as in the high-growth, disruptive consumer branded space.

Houlihan Lokey acted as the exclusive financial advisor to the sellers and assisted negotiating the transaction on their behalf.

If you would like more information about Houlihan Lokey or have questions regarding the firm's role in this transaction, please contact one of the team members listed.

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Deal Team Contacts

Garyth Stone
Managing Director
GStone@HL.com
+44 (0) 20 7747 7580
Jay Novak
Managing Director
JNovak@HL.com
312.456.4754
Shaun Browne
Managing Director
SBrowne@HL.com
+44 (0) 20 7747 7570
ChanChan Wang
Vice President
CCWang@HL.com
+44 (0) 20 7747 7585

Houlihan Lokey (NYSE:HLI) is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, and valuation. The firm serves corporations, institutions, and governments worldwide with offices in the United States, Europe, the Middle East, and the Asia‑Pacific region. Independent advice and intellectual rigor are hallmarks of the firm’s commitment to client success across its advisory services. Houlihan Lokey is the No. 1 M&A advisor for the past five consecutive years in the U.S., the No. 1 global restructuring advisor for the past six consecutive years, and the No. 1 global M&A fairness opinion advisor over the past 20 years, all based on number of transactions and according to data provided by Refinitiv (formerly Thomson Reuters).
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Houlihan Lokey is a trade name for Houlihan Lokey, Inc., and its subsidiaries and affiliates, which include those in (i) the United States: Houlihan Lokey Capital, Inc., an SEC-registered broker-dealer and member of FINRA (www.finra.org) and SIPC (www.sipc.org) (investment banking services); Houlihan Lokey Financial Advisors, Inc. (financial advisory services); HL Finance, LLC (syndicated leveraged finance platform); and Houlihan Lokey Real Estate Group, Inc. (real estate advisory services); (ii) Europe: Houlihan Lokey EMEA, LLP and Houlihan Lokey (Corporate Finance) Limited, authorized and regulated by the U.K. Financial Conduct Authority; Houlihan Lokey S.p.A.; Houlihan Lokey GmbH; Houlihan Lokey (Netherlands) B.V.; Houlihan Lokey (España), S.A.; and Houlihan Lokey (Corporate Finance), S.A.; (iii) the United Arab Emirates, Dubai International Financial Centre (Dubai): Houlihan Lokey (MEA Financial Advisory) Limited, regulated by the Dubai Financial Services Authority for the provision of advising on financial products, arranging deals in investments, and arranging credit and advising on credit to professional clients only; (iv) Singapore: Houlihan Lokey (Singapore) Private Limited, an “exempt corporate finance adviser” able to provide exempt corporate finance advisory services to accredited investors only; (v) Hong Kong SAR: Houlihan Lokey (China) Limited, licensed in Hong Kong by the Securities and Futures Commission to conduct Type 1, 4, and 6 regulated activities to professional investors only; (vi) China: Houlihan Lokey Howard & Zukin Investment Consulting (Beijing) Co., Limited (financial advisory services); (vii) Japan: Houlihan Lokey K.K. (financial advisory services); and (viii) Australia: Houlihan Lokey (Australia) Pty Limited (ABN 74 601 825 227), a company incorporated in Australia and licensed by the Australian Securities and Investments Commission (AFSL number 474953) in respect of financial services provided to wholesale clients only. In the European Economic Area (EEA), Dubai, Singapore, Hong Kong, and Australia, this communication is directed to intended recipients, including actual or potential professional clients (EEA and Dubai), accredited investors (Singapore), professional investors (Hong Kong), and wholesale clients (Australia), respectively. Other persons, such as retail clients, are NOT the intended recipients of our communications or services and should not act upon this communication. This email is an advertisement from Houlihan Lokey. To opt-out from receiving marketing communications from Houlihan Lokey and to manage your preferences in relation to the communications that Houlihan Lokey sends you, click here. Written inquiries can be sent to 10250 Constellation Blvd., 5th Fl., Los Angeles, CA 90067, or you may reach us via our contact page. 200204
 
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