Butternut Box secures £64m in debt financing from Liquidity
Since inception, Butternut Box has raised over £380m, having most recently received a £280m investment from General Atlantic and L Catterton
Fresh dog food brand Butternut Box has secured a debt financing of £64m from Liquidity, an AI-driven private credit firm.
The new funding will enable Butternut Box to solidify its market position in Europe with the development of a second manufacturing facility in Poland.
Founded in 2016, Butternut Box is now feeding fresh meals to hundreds of thousands of dogs across the UK, Ireland, the Netherlands, Belgium, Germany and Poland, with further expansion plans underway.
In 2024, the company also began feeding cats, with the launch of a fresh cat food brand in Marro. Since inception, Butternut Box has raised over £380m, having most recently received a £280m investment from General Atlantic and L Catterton.
The partnership with Butternut Box marks Liquidity’s 10th significant transaction in Europe over the past 12 months, as part of an expansive portfolio of opportunities the firm is currently identifying across the region.
Kevin Glynn, co-founder of Butternut Box, said: “Our mission has always been to get more dogs eating the fresh food they deserve. Partnering with Liquidity will help us continue that mission by ensuring we are well positioned to support our existing markets, whilst helping to deliver health and happiness to even more dogs across Europe.”
Ron Daniel, co-founder and CEO of Liquidity, added: “Butternut Box has established itself as a fresh pet food leader through an unwavering commitment to quality, innovation, and growth.
“Liquidity is the ideal partner for late-stage startups needing fast, flexible and non-dilutive access to capital. As such, we’re proud to support Butternut Box as they increase market share by expanding manufacturing capacity in EMEA in support of continued growth.”
