Analysis of a pet food startup from a CVC perspective
Visualitza/Obre
thesis-i-akisarr-july2022.pdf (2,629Mb) (Accés restringit)
Estadístiques de LA Referencia / Recolecta
Inclou dades d'ús des de 2022
Cita com:
hdl:2117/372890
Tutor / directorUmlauft, Roland
Realitzat a/ambAgrolimen
Tipus de documentTreball Final de Grau
Data2022-07-27
Condicions d'accésAccés restringit per decisió de l'autor
Tots els drets reservats. Aquesta obra està protegida pels drets de propietat intel·lectual i
industrial corresponents. Sense perjudici de les exempcions legals existents, queda prohibida la seva
reproducció, distribució, comunicació pública o transformació sense l'autorització del titular dels drets
Abstract
The pet food market is changing very rapidly and there are new trends that may challenge existing companies despite their robust competitive position. In this context, Agrolimen, a FMCG company with a significantly large pet food business division (6th player globally), has launched a corporate venturing unit to detect these trends and invest into startups that could be of strategic interest for the company. One of these trends is alternative pet food, a type of food which contains ingredients that tackle specific health conditions of pets, particularly digestive, joint, heart, dental and skin health. Alternative pet food includes raw, freeze dried, chilled fresh, freeze dried and home-cooked dog food. This thesis evaluates an investment opportunity into an Austria-based home-cooked dog food startup from the perspective of Agrolimen. To this end, we first study the overall pet food market in Europe and dive into the home-cooked market segment, understanding the market growth, the players, the challenges, opportunities, etc. A final assessment of the size of the opportunity and strategic interest of the segment is made. Only relevant segments in size with strong strategic interest are further prioritized. Next, the startup is analysed to understand the product and technology, the startup’s performance in terms of Life-time-value and cost of acquisition, future growth plans, the geographic and business focus, and the deal terms. We finalize the thesis with an assessment of the environmental and social impact of the project. From the analysis, it has been concluded that while the home-cooked dog food market is of strategic interest for Agrolimen, the analysed startup does not entail a clear opportunity neither to test the market nor to gain competitive advantage to enter the home-cooked market in the future. Apart from the question marks on performance and the unappealing deal terms, the startup is still very focused on the Austrian market, a geography of minor interest for Agrolimen. There is also lack of industry knowledge among the founders that could negatively affect their success chances. While this thesis focuses on the analysis of a specific startup, it can be used as a reference to evaluate investment opportunities from the perspective of corporations
MatèriesPet food industry -- Economic aspects, New business enterprises -- Economic aspects, Venture capital -- Forecasting, Animals de companyia -- Alimentació -- Indústria i comerç, Empreses -- Creació -- Aspectes econòmics, Capital de risc -- Previsió
TitulacióGRAU EN TECNOLOGIES INDUSTRIALS I ANÀLISI ECONÒMICA (Pla 2018)
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