Private-equity firm Creador has acquired a 40% stake in Malaysian pet-food group Pet World International.
Creador has bought the shares from COPE Private Equity and Pet World’s founding family.
Financial details were not disclosed.
Creador CEO Brahmal Vasudevan said the buy-out house would help Pet World on M&A and in expanding internationally.
Pet World, which produces 100,000 tonnes of pet food a year, sells products at more than 20,000 points of sale across Malaysia. It also ships to markets including Thailand, Indonesia, China and Singapore.
Its portfolio includes brands such as ProDiet cat food and ProBalance dog food.
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In February, Reuters reported that Pet World was preparing an initial public offering (IPO) in Singapore, seeking to raise $100 million by the end of 2023.
COPE Private Equity, which invested in Pet World in 2021, then told DealStreetAsia the IPO could be one possible exit option for the firm.
Since COPE Private Equity’s investment, the pet-food company has built a manufacturing plant in Shah Alam in Malaysia. The site has a monthly capacity of 3,000 tonnes, with future expansion in the works.
Creador, meanwhile, has also recently backed retail chain DALI Stores in the Philippines.
Last month, private-equity firm L. Catterton acquired a minority stake in Indian pet food business Drools Pet Food for around $60m.
The move marked the US-headquartered investor’s entry into what it described as a “burgeoning” pet-food market in India.
L Catterton also made a move into the Chinese market last year with an investment in Pure & Natural brand owner Shanghai Enova Pet Products.