Umios, formerly known as Maruha Nichiro, said its board of directors has resolved to acquire a 51% equity stake in Pet World International (PWI) through a newly established holding company. Upon completion, PWI will become a specified subsidiary of Umios.
The deal is valued at approximately ¥11.4 billion (US$70.4 million), according to additional reporting on the transaction.
Umios said the acquisition is intended to strengthen its pet food business, which the company has positioned as a core segment, and accelerate its expansion into the rapidly growing Asian pet food market.
Background and purpose
Umios has built its competitive advantage on sustainable sourcing and processing of marine-based raw materials, supported by an integrated global platform for food production, quality assurance and distribution. The company noted it has expanded its pet food business across North America, Europe and Japan using that foundation.
The global pet food market is expected to continue expanding at a compound annual growth rate of 5% to 7% through 2032, with Asia representing the fastest-growing region at approximately 8% CAGR, driven by rising middle-class income levels, urbanization and increasing pet humanization trends, Umios said.
Against that backdrop, Umios decided to acquire shares in PWI, which holds a strong brand position in the Malaysian market, to further expand its pet food business and accelerate its "glocal" strategy across Asia.
Growth strategy
According to Umios, PWI holds the No. 2 market share in Malaysia's dog and cat pet food market and operates across Southeast Asia, with Malaysia as its core market. The company reported revenue of ¥12.3 billion (US$76.0 million) for the fiscal year ended September 2025, according to additional reporting.
PWI has strong processing capabilities that enable a broad product range from value-oriented to high-nutrition and functional products, with particular strength in dry pet food, Umios said. Through the acquisition, Umios, which has traditionally focused on wet pet food, will build a more comprehensive platform covering both dry and wet pet food segments. The company said this is expected to enable more efficient use of sales networks, optimization of its product portfolio, collaboration in research and development, and improved capital allocation.
As a result of the acquisition, Umios' pet food business is expected to achieve operating income of approximately ¥10 billion (US$61.8 million) and return on invested capital of approximately 18% in the final fiscal year of the company's mid-term management plan, ending March 2028.
Umios also said it aims to leverage marine-based resources from its Marine Resources Business Segment as upstream raw materials, establishing a fully integrated value chain from upstream to downstream and further improving group-wide profitability. Umios said he pet food business will be positioned as a core growth driver, with continued disciplined growth investments planned to maximize corporate value.
According to the company, PWI is expected to become a consolidated subsidiary of Umios starting in the second quarter of the fiscal year ending March 2027. The financial impact of the transaction is currently under assessment but is expected to be minimal, the company said.
