The Chinese company China Pet Foods (owner of multiple brands and factories, including Wanpy) has acquired 70% of New Zealand’s largest OEM canned food factory for 154 million yuan (approx. US$24M). Customers of the Petfood NZ include Ziwi, K9 Natural, etc.
China Pet Foods announced the acquisition of 70% of the shares of New Zealand PFNZ company, costing about 154.5 million yuan. New Zealand is one of the world’s most important exporters of high-end pet food. PFNZ is New Zealand’s largest pet canned food factory in the country. Its customers include the popular high-end brands Ziwi and K9 Natural, 2 brands that are particularly successful in North America and China.
After the completion of this acquisition, China Pet Foods will have a forward-looking production capacity layout in the world’s most important pet food production areas and markets, including China, New Zealand, Canada and the United States. Prior to 2018, China Pet Foods has successfully acquired New Zealand NPTC and ZPF companies. The Zeal brand acquisition through this merger has become one of the most important engines for the company’s growth in China, in the high-end market.
According to the announcement, A-share listed company Zhongchong acquired 70% of PetfoodNZ International Limited (“PFNZ”) held by VLR Global Holdings PTE.LTD. and Stuart Stirling TAYLOR for NZD 33,437,500 (approximately RMB 154.5 million, US$24 million). After the completion of the acquisition, PFNZ will become the holding subsidiary of China Pet Foods.
PetfoodNZ is a company founded in New Zealand (NZ), headquartered in Gisborne. Since 2010, PFNZ has been committed to using New Zealand’s natural raw materials, relying on its years of accumulated production experience and strict food manufacturing standards, to export healthy high-end canned pet food to the international market.
Before this transaction, PFNZ’s equity information is as follows:
- VLR Global Holdings Pte. Ltd. 60%
- Stuart Stirling Taylor 20%
- Ziwipeak Limited 20%
Post-acquisition, the ownership structure is as follow :
- Yantai China Pet Foods 70%
- Ziwipeak Limited 20%
- VLR Global Holdings Pte. Ltd. 5%
- Stuart Stirling Taylor 5%
This acquisition is an important part of China Pet Foods’s overseas strategy. After the completion of the acquisition, the company will further strengthen its product line and product delivery capabilities. In addition, through this acquisition, China Pet Foods is improving its ability to integrate domestic and foreign pet food industry resources.