Real Pet Food did not disclose the price paid for the company. Yi Cai reported that a source value the transaction at several billion yuan. Asia Times reported that the purchase price was AUS$1 billion (US$770 million).
New Hope collaborated in the acquisition with Hosen Capital, Temasek, CIC International Co., GenBridge Capital, a private equity growth fund and other investors.
History of V.I.P. Petfood and Real Pet Food
V.I.P. Petfood trades as Real Pet Food Company, according to the Petfood Industry Top Companies database.
V.I.P. Petfoods is a manufacturer of dry, wet, fresh and chilled pet food and treats for dogs and cats. Its recent growth into the US market through the H.E.B grocery store chain in Texas was helped by V.I.P.'s 2015 acquisition by the private equity firm Quadrant. The company offers a dog and cat grain-free range, and game meat pet meals. V.I.P also offers private label pet foods for international markets. Its private-label subsidiary is Australian Pet Brands.
V.I.P.’s cat food brands include Fussy Cat and Gourmet Fresh. The company’s dog food brands include Chunkers, Frosty Paws, Supreme Fresh, Natures Goodness, Gourmet, Mega Bite, Meat Lovers and Brownie.
In January 2017, V.I.P acquired Consolidated Manufacturing Enterprises Pty Ltd (CME) from its owners, Indigenous Business Australia (IBA) and Ridley Agriproducts Pty Ltd (Ridley). The acquisition came into effect January 31, 2017. The manufacturing plant in Invernell (Australia) employs more than 50 staff. In October 2016, V.I.P. Petfoods acquired UK-based Billy + Margot, a dog food producer and distributor, from The Company of Animals, Ltd. (COA). In June 2015, Quadrant Private Equity acquired V.I.P. Petfoods for AUD410 million (US$317.8 million).