Germany-based cat and dog treat manufacturer Gimborn Holding GmbH is being sold to investment firm Hillhouse Capital Management by Penta Investments, reported Pet Worldwide. Financial terms of the transaction were not disclosed.
Beijing, China-based Hillhouse is an investment firm focused on the consumer, industrial and healthcare sectors. The company has significant investments in Asia.
"Following the highly successful restructuring and development of Gimborn, we are pleased to have found the ideal new owner for the company," said Thomas von Werner, managing director of Penta in Germany. “Under the experienced management of Hillhouse, Gimborn can accelerate its planned expansion into Asia. This presents a significant opportunity for Gimborn, allowing the business to continue its success story and to sell and market its products on a global basis.”
Between 2013 and 2015, cat and dog treat manufacturer Gimborn's core business grew 3.8% annually as a result of new product designs, strong growth through the penetration of online channels and new product introductions. EBITDA increased significantly by 40%, mainly related to the reorganizations and portfolio changes.
In 2013, Gimborn had 145 employees, according to the Petfood Industry Top Pet Food Companies database.
The company operates a chain of 100 retail shops Pet Center throughout the Czech Republic Slovakia the Baltic States and Romania. In addition to two German facilities Gimborn has offices in Italy and England.
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