“Our ambition is to be a key player across Europe in countries with a large population of horses. In our core countries, the Netherlands, Germany, Belgium, Austria, Sweden, Denmark and Spain, we have that position. But in the UK, a country with around a million horses, we have no real position yet”, Rob explains. “The UK is not only a large market for sales of horse feed, but also a country with a very high level of knowledge and innovation in horse nutrition. These factors make the UK an important and interesting country for us. To gain a position in this market you have to acquire a company or enter into a partnership and that is why this acquisition is very important for Pavo. In addition, this acquisition also fits into ForFarmers’ strategy of making OpCo-specific choices.”
What position do we have in the UK as a result of this acquisition?
Rob: “There are very many players in the UK, the market is quite fragmented but with a few strong brands. Thunderbrook currently has a market share of around 2-3% in the UK and certainly has the potential to grow to 5-7% market share in the next few years, which would then put us straight into a top five position. For your information, the biggest brand currently has around 12% market share. In addition, Thunderbrook is a healthy business with a large number of retailers selling Thunderbrook products and with products in its portfolio generating high margins.”
How would you characterize the Thunderbrook brand?
“Thunderbrook is really different from other brands and has a special story. Dr Deborah Carley started this company 12 years ago. She has a background in biochemistry and a PhD in Biological & Nutritional Sciences. She started making horse feed and supplements in her own kitchen, simply to make her sick horse Harlequin better. When the vet and blacksmith saw how Harlequin recovered through this feed, they were amazed and encouraged Debbie to start selling these products to other horse owners. And so Thunderbrook began. In all those years they did very little in terms of marketing or active sales, it’s really a story of word of mouth and yet they managed to achieve a 2-3% market share!” says Rob enthusiastically.
Maike adds: “The company is also very down-to-earth and another characteristic is that they use only natural ingredients and are primarily concerned with the health of the horse.”