Eurazeo Brands buys majority stake in UPD for €68m

Eurazeo invested alongside co-founders Sophie and Matthieu Wincker and minority shareholder Eutopia, a Paris- and New York-based investment fund dedicated to consumer startups.

Eurazeo plans to support the company's growth by investing in its digital and e-commerce capabilities, expanding its customer base and broadening its product offering. In addition, the GP intends to deploy its global network to help UPD boost its international expansion, primarily across Europe.

Eurazeo Brands was launched with an investment capacity of up to $800m in May 2017. The division is dedicated to investments across the retail (beauty, clothing, accessories, homeware, jewellery) and consumer (leisure, health, fitness, food) sectors. Tickets vary between $10m and $100m, with a possibility to co-invest alongside Eurazeo Capital for any investments that exceed $100m and can reach up to $600m.

UPD is the ninth investment made by Eurazeo Brands since its inception.

Previous funding
UPD received an investment from Eutopia in 2016 and a €7m injection from French early-stage venture capital fund Otium Capital in May 2018.

Company
Founded in 2013 and based in Estillac, Ultra Premium Direct is a producer of pet food for cats and dogs.

The company develops high-protein, low-grain and grain-free pet food with no artificial colourings or preservatives, in collaboration with veterinarian nutritionists.

The business operates R&D capabilities and an industrial plant located in Agen, in the south of France.

People
Eurazeo Brands – Laurent Droin (managing director).
Ultra Premium Direct – Sophie Wincker, Matthieu Wincker (co-founders).

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