Expanding our animal supplement business with the acquisition of Greencoat Limited

From the 2022 Annual Report

To leverage this opportunity, we have focused on expanding our international animal supplement businesses through acquisitions and expansion to create a multi-species portfolio of products for the global market.

With our existing supplement proposition focused on B2B customers, we recognised an opportunity to expand into the B2C market through this acquisition. Greencoat has experience in direct-to-consumer sales and marketing, complementing our technical expertise and deep understanding of the nutrition and care of horses all of which provided a strong strategic rationale for the acquisition.

Greencoat comprises a number of well-known and much-loved brands sold direct to consumers across the UK and EU through retail and e-commerce, or through veterinary channels. These brands include: NutriLabs, equine and companion pet supplements sold through veterinary channels in Germany and Austria, complementing veterinary treatments for dogs and cats; Natural VetCare, a comprehensive range of nutritional supplements and topical products for dogs and cats, sold to consumers through retail channels in the UK, Sweden, Norway and Denmark; and Greencoat’s flagship NAF Five Star brand, which is synonymous with premium equine supplements across Europe.

In the UK, NAF Five Star is the branded market leader in equine supplements and supplies products across all wellbeing and care categories. NAF Five Star sells products in many countries and has seen good growth over the last five years, specifically in western Europe and the Nordic region. Its products are for all horses, covering the full spectrum of disciplines from leisure riders through to elite and competing riders.

Fundamental to NAF’s success is the relationship it has developed with its customers, which is based on trust and NAF’s commitment to putting the wellbeing of the horse at the forefront of everything it does. This plays directly into the special relationship an owner and/or rider has with their horse, with the horse’s wellbeing being paramount.

It’s the importance of this relationship that sets the equine supplements business apart from similar industries and why trust in the NAF Five Star brand is so important.

The NAF business is dedicated to investing in that relationship. Over the last 20 years new product development has been driven by customer demand and addressing the needs of their animals. With efficacy and quality at the heart of everything they produce, NAF’s supplements cover a number of categories including joints, hooves, breathing, digestion and gut health, behaviour and calming, and performance.

Attractively packaged and with appealing brand names, the care products include the Silky grooming range and the aptly labelled, best-selling fly spray NAF OFF. NAF has worked hard to achieve its five-star reputation and fundamental to this is NAF’s total commitment to Clean Sport, quality and research. The products not only meet the needs of the UK BETA NOPS (British Equestrian Trade Association Naturally Occurring Prohibitive Substance) scheme, but also surpass their requirements with stringent quality systems and testing to ensure the products are compliant under Fédération Equestre Internationale (FEI) guidelines.

It is this commitment to Clean Sport that has enabled NAF to secure its position as the only official supplier of equine supplements and horse care products to the British Equestrian teams.

It is imperative to NAF that the British Equestrian team riders believe in the products and the benefits they can bring to their horses’ performance. NAF products are highly regarded and fed to some of the best-known horses in the industry.

Riders at the highest level are proud to be ambassadors for the brand. Charlotte Dujardin, the British dressage rider who has won multiple world and Olympic titles, was appointed a brand ambassador in 2021. The brand also has wellestablished relationships with successful horse racing trainers including Christian Williams and Michael Owen, and also his daughter, international dressage rider Gemma Owen.

NAF Five Star is equally well-known by riders of all levels and disciplines, thanks to associations with all the lead governing organisations including British Equestrian, British Dressage, British Eventing, British Show Jumping, British Horse Society and the British Riding Clubs.

However, the most important relationship in NAF’s growth is, and always will be, its enviable relationship with customers. This relationship is established and maintained by engaging directly with owners and riders across a range of channels including a free nutritional telephone helpline and social media platforms. Through these channels customers can post health-related queries and share success stories that are then profiled on NAF’s social media channels as ‘Five Star reviews’ which drive further engagement with the NAF community.

The team also meets customers faceto-face at equine events supported by NAF Five Star, including international horse trials and dressage championships. The learnings from conversations with horse owners help steer brand building marketing campaigns combined with consumer research via NAF’s consumer community database, the ‘Five Star Club’, as well as industry governing bodies and associations.

Looking ahead, NAF’s direct‑to‑consumer platform and strong brand positioning, combined with AB Agri’s global network and technical capabilities, offer exciting growth opportunities for the NAF brand and the wider Greencoat business.