Ziwi Valued at $1 Billion in Acquisition

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

The financial terms of the agreement were not disclosed but reports mention the transaction values Ziwi at $1.06 billion.

“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 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.”