Private-equity firm Creador has acquired a 40% stake in Malaysian pet food manufacturer, Pet World International. Creador has bought the shares from COPE Private Equity and Pet World’s founding family.
Creador CEO Brahmal Vasudevan said the company will help Pet World on its M&A activities and in expanding internationally.
Pet World currently produces 100,000 tonnes of pet food per year, and it sells its products to more than 20,000 points of sale (POS) across Malaysia. It also ships to overseas markets like Thailand, Indonesia, China and Singapore. Its product portfolio includes brands such as ProDiet cat food and ProBalance dog food.
Prior to the acquisition, Pet World was earlier reported to be preparing for an IPO listing in Singapore, as it seeks to raise up to US$100 million by the end of 2023 to finance its expansion.
Pet World has built a manufacturing plant in Shah Alam in Malaysia with a monthly production capacity of 3,000 tonnes. With the new acquisition, expansion is on the way.
