Umios has moved to enter Southeast Asia’s pet-food market by way of a deal for 51% of Malaysia’s Pet World Worldwide.
The Japanese seafood large, previously often known as Maruha Nichiro, has a presence in moist cat meals, promoting to east Asia, North America and Europe.
The acquisition of a majority stake in Pet World Worldwide (PWI) will see Umios enter Southeast Asia and develop its vary to dry pet food.
Umios, which is paying Malaysian conglomerate Wah Kong Company Y11.4bn ($$70.4m) for the stake in PWI, described Southeast Asia because the “fastest-growing pet-food market” in Asia. The corporate pointed to the Philippines and Thailand, the place it stated gross sales are rising at a compound annual development fee of 10%.
In a stock-exchange submitting, Umios stated PWI has a “robust model place” in Malaysia. With out disclosing figures, the corporate added PWI “holds the quantity two market share” within the canine and cat pet meals market in Malaysia.
Within the 12 months to the top of September final 12 months, PWI generated internet gross sales that translated to Y12.4bn, Umios stated. Its internet gross sales are rising at a CAGR of 11.3%, the corporate added.
Pet meals sits inside Umios’s Processed Meals division. When the corporate reported its outcomes for the 12 months to 31 March final month, the corporate stated its pet-food gross sales “remained robust”, though change charges and enter prices weighed on income.
PWI will make use of the “procurement capabilities” of Umios’s Marine Assets Enterprise division to purchase substances, the brand new investor stated.
In a presentation on the corporate’s outcomes, Umios indicated plans to take a position additional in pet-food manufacturing and M&A over the subsequent two monetary years. The corporate described pet meals as “a key development driver”.
“Umios enters SE Asia pet-food market” was initially created and revealed by Simply Meals, a GlobalData owned model.
