Global Pet Industry Closes Four Strategic Deals Across UK Food, Distribution, Equine Biotech, and Cultivated Protein
Executive Summary: In September 2026, four strategic transactions reshaped segments of the pet industry value chain: Pets Choice (UK) acquired Pettex Aquatic’s pond food business; Paramount Retail Group sold Vital Pet Group to SPL Group; Boehringer Ingelheim acquired Evax, a Swiss equine vaccine biotech; and Ever After Foods (Israel) acquired Belgian food-tech company Fishway to expand cultivated protein manufacturing for premium pet food. The deals span portfolio expansion, distribution divestment, animal health pharma, and alternative protein technology.
Key Facts
- Company
- Pets Choice, Paramount Retail Group, Boehringer Ingelheim, Ever After Foods
- Country
- United Kingdom, Germany, Switzerland, Israel, Belgium
- Industry
- Pet food, distribution, animal health, cultivated protein
- Category
- Mergers and acquisitions, divestment, technology acquisition
- Event
- Four strategic pet industry transactions
- Date
- 2026-09-07
- Location
- United Kingdom, Germany, Israel, Belgium
- Source
- GlobalPETS / Global Pet Industry
What Happened
GlobalPETS reported four strategic pet industry transactions in September 2026, spanning distinct segments of the value chain:
Pets Choice acquires Pettex Aquatic pond food business (UK). British pet food manufacturer Pets Choice has acquired the goodwill and branding associated with Pettex Aquatic’s pond food business following the company’s closure. The range joins Pets Choice’s portfolio from October 1, 2026. Pets Choice had previously integrated Pettex’s cat litter and small animal lines in April 2025. Tony Raeburn, CEO of Pets Choice, said: “Pettex has built an excellent reputation within the aquatic market, and we are committed to continuing that legacy.”
Paramount Retail Group sells Vital Pet Group to SPL Group (UK). PRG sold VPG, a Yorkshire-based pet products supplier, to SPL Group as part of its strategy to concentrate resources on owned and licensed brands. VPG’s portfolio includes pet food, accessories, hygiene products, equine feed, and home and garden supplies. Ravi Sharma, Director at PRG, said: “The sale gives VPG the independence to develop under committed new ownership, while enabling Paramount Retail Group to focus its investment on branded businesses.”
Boehringer Ingelheim acquires Evax (Switzerland). German pharmaceutical company Boehringer Ingelheim acquired Evax, a Swiss biotech founded at the University of Zurich, developing therapeutic vaccines for equine health. Evax’s pipeline includes virus-like particle (VLP) vaccine technology targeting allergic skin diseases in horses. Financial terms were not disclosed. Boehringer Ingelheim stated: “The acquisition of Evax reflects our commitment to addressing unmet medical needs and advancing equine health. The equine business represents around 6% of our net sales.”
Ever After Foods acquires Fishway (Israel/Belgium). Israeli food manufacturer EAF acquired Belgian food-tech company Fishway to expand its industrial protein manufacturing platform. The integration adds aquatic cell lines, animal-component-free (ACF) media expertise, and an experienced scientific team. One initial commercial program will focus on cultivated functional protein ingredients for premium pet food, driven by industry demand and favorable regulatory dynamics.
Background
Pets Choice is headquartered in Blackburn, Lancashire, with facilities in Yatton and Cardiff. The company offers pet and wild bird products under brands including Webbox, Bob Martin, TastyBone, and Vitakraft. The Pettex acquisition extends its aquatic product portfolio.
Vital Pet Group is a Yorkshire-based pet products supplier serving independent retailers. SPL Group, the acquirer, takes ownership of VPG’s distribution operations across pet food, accessories, hygiene products, equine feed, and home and garden supplies.
Boehringer Ingelheim’s animal health division has been investing in therapeutic vaccines beyond traditional companion animal pharmaceuticals. The equine business represents approximately 6% of the company’s net sales. Evax’s VLP technology is designed to stimulate a horse’s immune system to produce neutralizing antibodies targeting the underlying cause of allergic skin diseases.
Ever After Foods operates an industrial protein manufacturing platform. The Fishway acquisition adds complementary cell line technology and scientific capabilities. The cultivated protein category for pet food is driven by pet food wholesale supplier demand for novel functional ingredients and favorable regulatory dynamics in certain markets.
Industry Context
The four deals reflect a pet industry report 2026 trend: continued capital flow across manufacturing, distribution, biotech, and alternative protein segments. The Pets Choice deal extends portfolio consolidation in UK pet food, where established manufacturers absorb assets from closing businesses. The VPG divestment reflects a broader trend of retail groups focusing on owned brands rather than distribution operations.
The Boehringer Ingelheim/Evax deal extends animal health M&A into therapeutic vaccines for equine dermatology, an underserved category. The EAF/Fishway deal is particularly relevant for the premium pet food ingredient supply chain, as cultivated functional protein ingredients represent an emerging category that intersects with pet supply chain solutions and the humanization-driven premiumization trend.
Market and Business Impact
For the UK market, the Pets Choice and VPG transactions reflect structural changes: manufacturers consolidate portfolios while distribution groups specialize. The pet food wholesale supplier and pet product distributor segments in the UK are reorganizing as retail groups refine their strategic focus.
For animal health, the Boehringer Ingelheim/Evax deal signals investment in therapeutic vaccine platforms beyond traditional pharmaceutical products. Equine dermatology represents a niche but underserved market with potential for longer-lasting treatment outcomes through VLP technology.
For alternative protein, the EAF/Fishway deal positions cultivated functional protein ingredients for premium pet food as a commercially viable category. The pet market report for cultivated protein in pet food is driven by industry demand, product value, and favorable regulatory dynamics in certain jurisdictions.
Companies and Brands Involved
Pets Choice (UK, brands: Webbox, Bob Martin, TastyBone, Vitakraft), Pettex Aquatic (acquired pond food business). Paramount Retail Group (seller), Vital Pet Group (target, sold to SPL Group). Boehringer Ingelheim (acquirer, equine business ~6% of net sales), Evax (target, Swiss biotech, VLP vaccine technology). Ever After Foods (acquirer, Israel, industrial protein platform), Fishway (target, Belgium, food-tech, aquatic cell lines).
Data and Evidence
- Pets Choice acquires Pettex Aquatic goodwill and branding; range joins portfolio October 1, 2026 (GlobalPETS)
- VPG sold to SPL Group; portfolio includes pet food, accessories, hygiene, equine feed (GlobalPETS)
- Boehringer Ingelheim acquires Evax; equine business ~6% of net sales; financial terms undisclosed (GlobalPETS)
- EAF acquires Fishway; initial commercial program for cultivated functional protein ingredients for premium pet food (GlobalPETS)
- Pets Choice HQ: Blackburn, Lancashire; facilities in Yatton and Cardiff
- VPG: Yorkshire-based, pet products supplier
What This Means for the Pet Industry
The four transactions demonstrate that pet industry capital flow is diversifying beyond consumer brand acquisitions into infrastructure: manufacturing capacity (Pets Choice), distribution specialization (VPG/SPL), animal health biotech (Boehringer Ingelheim/Evax), and alternative protein technology (EAF/Fishway). For GPI’s B2B audience, the EAF/Fishway deal is the most forward-looking: cultivated functional protein ingredients for premium pet food represent an emerging supply chain category that could eventually reduce dependence on animal-sourced proteins. The Boehringer Ingelheim/Evax deal extends animal health investment into therapeutic vaccines for equine dermatology, showing that pharma companies see underserved niches beyond companion animal medicine. Together, the deals signal a maturing industry where capital targets specialized infrastructure rather than just brand equity.
Key Takeaways
- Pets Choice acquired Pettex Aquatic’s pond food business and branding, adding to its portfolio from October 1, 2026, following its 2025 integration of Pettex cat litter and small animal lines.
- Paramount Retail Group sold Vital Pet Group to SPL Group, giving VPG independence while PRG concentrates on owned and licensed brands.
- Boehringer Ingelheim acquired Evax, a Swiss biotech with VLP vaccine technology for equine allergic skin diseases; the equine business represents approximately 6% of Boehringer Ingelheim’s net sales.
- Ever After Foods acquired Belgian food-tech Fishway, adding aquatic cell lines and ACF media expertise for cultivated functional protein ingredients targeting premium pet food.
- The four deals span UK food manufacturing, distribution, animal health pharma, and alternative protein technology, showing capital diversifying across the pet industry value chain.
Frequently Asked Questions
What happened?
Four strategic pet industry transactions were reported in September 2026: Pets Choice acquired Pettex Aquatic’s pond food business; Paramount Retail Group sold Vital Pet Group to SPL Group; Boehringer Ingelheim acquired Swiss biotech Evax for equine vaccine technology; and Ever After Foods acquired Belgian food-tech Fishway for cultivated protein manufacturing.
Which companies are involved?
Pets Choice (UK pet food manufacturer), Paramount Retail Group and Vital Pet Group (UK pet products distribution), Boehringer Ingelheim and Evax (animal health pharma), and Ever After Foods and Fishway (cultivated protein technology).
Where did the deals take place?
The transactions span the United Kingdom (Pets Choice, VPG), Germany and Switzerland (Boehringer Ingelheim, Evax), and Israel and Belgium (Ever After Foods, Fishway).
Why are these deals important for the pet industry?
The deals show capital diversifying across the pet industry value chain — from manufacturing and distribution to animal health biotech and alternative protein technology — signaling a maturing industry where investment targets specialized infrastructure.
What pet industry segment is affected?
The deals affect UK pet food manufacturing and distribution, animal health pharmaceuticals (equine vaccines), and the emerging cultivated protein ingredient supply chain for premium pet food.
Sources
- Primary — GlobalPETS / Global Pet Industry, “Pet industry closes strategic deals across key categories,” September 7, 2026, https://globalpetindustry.com/news/pet-industry-closes-strategic-deals-across-key-categories
