KKR acquires New Zealand’s Natural Pet Food Group through Asian fund

Photo: Fernando Jorge/ Unsplash.com

Private equity giant KKR & Co announced that it has acquired New Zealand-based premium pet food company Natural Pet Food Group for an undisclosed amount.

The acquisition will be funded by KKR Asian Fund IV, the PE firm’s $15-billion Asia-focused buyout fund.

Natural Pet Food Group CEO Neil Hinton said the acquisition will allow the company to grow internationally, develop new products, and take its brands to new customers and new markets.

Launched in 2006, the company sells pet food through its dog and cat brands K9 Natural, Feline Natural, and Meat Mates. The company’s pet food is produced from grass-fed and free-range meat, cage-free chicken, and sustainable seafood.

“KKR’s investment marks the next phase of our evolution and their support is a strong endorsement of the outlook for our business,” Hinton added.

New Zealand has a large pet population and one of the highest rates of pet ownerships in the world, with nearly half of all households owning a cat and around one-third owning a dog, according to reports.

Commenting on the acquisition, Michael Robson, managing director of KKR Capstone, said the investment reflects KKR’s commitment to supporting fast-growing companies in New Zealand that are seeking new sectors, verticals, and markets.

KKR said it will fund its investment from KKR Asian Fund IV, which recently closed at $15 billion, the largest PE fund dedicated to investing in the Asia Pacific region.

KKR Asian Fund IV exceeded its $12.5-billion target and surpassed the record $10.6 billion raised by Hillhouse Capital Group for Asia in 2018. KKR said it will invest approximately $1.3 billion alongside fund investors through the firm and its employees’ commitments. The fund received strong support from diverse new and existing global investors, including Asia Pacific-based investors.

The final close of Asian Fund IV builds on the momentum across the PE firm’s Asia Pacific platform. In January, KKR also announced the final closings of its inaugural pan-regional infrastructure and real estate funds – the $3.9 billion Asia Pacific Infrastructure Investors Funds and the $1.7 billion Asia Real Estate Partners Fund.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.