mynth
07/2026

Verlinvest / Five Seasons Ventures invest in Years

UNITED KINGDOM Consumer Products / Pet Care REV 1m GBP - 100m GBP

Context

The investment fund Verlinvest, together with Five Seasons Ventures, signed a growth investment in Years, the UK’s first Cupboard Fresh® dog food brand, to accelerate its pan‑European rollout. The transaction, structured as a growth‑equity round, brings together Verlinvest, an evergreen investment firm with a long‑standing premium pet portfolio, and Five Seasons Ventures, a specialist venture capital partner focused on next‑generation consumer brands. Both investors will join the Board of Years, with Anaïs Jollivet (Verlinvest) and Ivan Farneti (Five Seasons Ventures) adding strategic oversight as the company embarks on its next phase of development. Raymond James acted as financial advisor to Years in connection with the transaction. Strategically, the capital injection is earmarked for rapid international expansion, deeper penetration of retail channels, and the scaling of omnichannel distribution across Europe. Leveraging the Cupboard Fresh® platform, Years aims to broaden its premium, health‑focused portfolio, introduce breed‑specific functional toppers and super‑food supplements, and reinforce its mission of extending the healthy lifespan of dogs. The partnership also provides access to Verlinvest’s extensive FMCG network and Five Seasons Ventures’ expertise in subscription‑based pet nutrition models, positioning Years to become a defining brand in the emerging fresh‑pet‑food category.

Years, which reported an EBITDA margin of in 2026, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Retail & Consumer sector (11.2x).

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Target

Founded in 2023 in Nottingham, Years develops and sells ambient‑storage dog meals that combine fresh, minimally processed whole‑food ingredients with a shelf life of up to 18 months. The company’s proprietary Cupboard Fresh® process preserves nutritional quality while eliminating the need for refrigeration, allowing the meals to be distributed through both direct‑to‑consumer subscriptions and retail partners. Each recipe is formulated by veterinary nutritionists and personalised to a dog’s weight, age and dietary profile; the catalogue includes seasonal meat dishes, breed‑specific functional toppers and super‑food supplements. Since launch, more than 12 million personalised meals have been shipped, and the brand is available in over 460 Pets at Home stores across the United Kingdom in addition to its online platform. Years targets dog owners seeking high‑quality, health‑focused nutrition that can be delivered conveniently without a cold‑chain. The operational model relies on a centrally located production facility that prepares chef‑cooked meals, packages them for ambient storage, and fulfills orders through a logistics network supporting both subscription deliveries and retail replenishment.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (GBP)

Year
Rev
EBITDA
EBIT
2026
2025

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REFERENCES

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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: years

Acquirer: five seasons ventures / verlinvest