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Pet Food Maker Ziwi Valued at $1B+ in Acquisition Deal: Report

The deal is ‘an important milestone in ZIWI’s bold global growth ambitions.’

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FountainVest Partners, a private equity firm based in Hong Kong, plans to acquire New Zealand-based pet food company Ziwi.

Financial terms of the deal were not disclosed. But the transaction values Ziwi at $1.06 billion, Bloomberg News reports, citing unnamed sources.

“This partnership is about maintaining ZIWI’s high-quality standards and natural New Zealand-sourced approach to pet nutrition, while serving more pet guardians worldwide,” said Ziwi Managing Director Richard Lawrence. “This signing is an important milestone in ZIWI’s bold global growth ambitions, which was envisioned when it launched in 2004.”

He added: “It will be business as usual for ZIWI staff. This investment will build on the current team’s successful strategy and plan to meet strong global demand for ZIWI’s product range, with new jobs and exciting career opportunities to be created in New Zealand and internationally over the long term. The management team will continue to lead the business, with executive management reinvesting back into the business.

“ZIWI’s customers worldwide value our use of high-quality New Zealand-sourced ingredients, and we remain committed to New Zealand being the home of our production kitchens.”

The signed sale and purchase agreement is conditional on New Zealand government approval.

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Ziwi has a U.S. headquarters in Overland Park, KS.

Read more at Bloomberg News

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