Paramount Retail Group has completed the sale of Vital Pet Group to SPL Group as part of its continued strategy to focus on the development and growth of its core branded businesses.

The acquisition sees VPG enter its next chapter under the ownership of SPL Group, led by Tom Wang and Joint Managing Director Richard Long.

Following completion, VPG will operate independently of Paramount Retail Group, with its new ownership responsible for the future strategy, investment and operation of the business.

PRG believes SPL Group represents an excellent long-term home for VPG with their approach to the business, their understanding of the importance of its people and trading relationships, and their ambition to build on VPG's established position within the UK pet trade.

The divestment represents a further step in PRG's strategy to concentrate its resources, investment and management focus behind its portfolio of owned and licensed brands. PRG has continued to invest across its branded businesses, including Black Sheep Brewery, Saltaire Brewery, Purity Brewing Co. and the wider Great British Drinks Company portfolio, alongside its consumer and branded operations within the pet sector as well as its confectionery brands Montezuma's Chocolate and Bristow's of Devon.

The Group's focus is on building distinctive, sustainable brands with strong routes to market and clear long-term growth opportunities.

Ravi Sharma said: “Vital Pet Group has been an important part of the Group, and we would like to thank the VPG team for their contribution during that time.

"Finding the right home for the business was important to us. We believe Tom, Richard and SPL Group are the right people to take Vital forward. They have approached the opportunity with real enthusiasm for the business, respect for what the team has built and a clear belief in its future potential.

"The sale represents the right next step for both businesses. It gives VPG the independence to develop under committed new ownership, while enabling Paramount Retail Group to focus its investment, resources and attention on the branded businesses at the heart of our long-term strategy. We wish Tom, Richard and everyone at VPG every success for the future.”

Tom Wang and Richard Long of SPL Group said: “Vital Pet Group has an excellent position within the UK pet trade, with strong customer and supplier relationships and a well-established team.

"We are excited to take Vital Pet Group into its next chapter and build on its strong foundations. Our ambition is to build on the foundations already in place and support the continued growth of Vital Pet Group as an independent business.

"People, customers and suppliers are at the heart of Vital Pet Group, and we are committed to building strong long-term relationships across the sector.

"We would also like to thank Paramount Retail Group for the way they have managed the transition and for the trust they have placed in us to take Vital Pet Group forward.”

Following completion, Vital Pet Group will no longer form part of Paramount Retail Group. Its operations and future strategic direction will be independent of PRG.