China-based private equity firm FountainVest Partners acquired ZiwiPeak, a New Zealand air-dried pet food company, for approximately $1.04 billion to fund the brand's expansion and support its new production facility while maintaining current operations.
- FountainVest Partners, a China-based private equity firm, acquired ZiwiPeak for approximately $1.04 billion USD (NZD 1.5 billion)
- ZiwiPeak generates $16 million in annual revenue and sells products in more than 25 countries
- The company is building a 12,000 square meter production facility in Napier, New Zealand costing NZD 70 million, expected to complete September/October 2021
- All meat and seafood are sourced and manufactured in New Zealand, specializing in air-dried raw pet food for dogs and cats
- ZiwiPeak was founded by Peter Mitchell, a free-range deer farmer, and currently employs 120 people
China-based private equity firm FountainVest Partners will acquire pet food company Ziwi Ltd., maker of ZiwiPeak brand, reported Radio New Zealand. The acquisition will fund Ziwi’s further growth. Although the terms were not disclosed, the reporter speculated that the private equity firm bought the New Zealand-based pet food company for nearly NZD1.5 billion (US$1.04billion). Ziwi has sales of approximately NZD 50 million (US$35 million) annually. Despite the acquisition, Ziwi executives expect business to continue as usual.
Ziwi was founded in Mount Maunganui, New Zealand by a free-range deer farmer, Peter Mitchell, who had supplied deer meat to pet food companies internally previously, according to the company’s website.
Ziwi Limited sells its air-dried raw pet food, wet pet food and treats for dogs and cats in more than 25 countries, according to Petfood Industry’s Top Pet Food Companies Current Data. All meat and seafood are sourced in New Zealand and all Ziwi products are manufactured in New Zealand. The company’s annual revenue reached US$16,000,000 and employs 120 people.
Ziwi building pet food production facility
Ziwi is building a pet food production facility in Awatoto, New Zealand. The new 12,000 square meters (129,167 square foot) production kitchen will cost NZD70 million. The kitchen will be capable of doubling Ziwi’s current Tauranga kitchen output. It will also have new air-dried technology, which will allow the development of new product lines.
Work on the new Ziwi pet food facility started last year, with a completion date in September/October 2021. The company’s three Tauranga sites will continue to operate until late 2021 when production from these sites shifts to Napier and the three Tauranga sites will close. All employees at the Tauranga sites will be offered jobs at the new Napier kitchen. The company’s processing kitchen in Christchurch, and its Auckland-based sales and marketing team, are unaffected by the establishment of the new kitchen in Napier.
