Global private equity major KKR has completed a buyout of high-meat dog and cat food supplier Natural Pet Food Group using its mammoth new Asia Pacific-focused fund.
KKR said the investment would support NPF’s international growth and advance its mission to supply safe, sustainably sourced high-meat pet food from New Zealand.
Michael Robson, managing director of KKR Capstone, said, “Natural Pet Food Group is a pioneer in New Zealand’s sustainable pet food industry, with a strongly defined mission and set of values.
“…this investment also reflects KKR’s commitment to supporting fast-growing companies in New Zealand that are seeking opportunities to expand into new sectors, verticals, and markets.”
KKR raised the biggest private equity fund dedicated to the Asia-Pacific region earlier this month through a $15bn final close.
The firm committed $1.3bn of its own capital to KKR Asian Fund IV, which it said would pursue opportunities stemming from rising consumption and urbanisation trends, as well as corporate carve-outs, spin-offs, and consolidation as companies look to optimize their portfolios.
KKR was understood to have been eyeing up to $12.5bn for the fund – well ahead of the already impressive $9.3bn it gathered for its Asian Fund III in 2017.
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Source: https://www.altassets.net/private-equity-news/by-news-type/deal-news/kkr-taps-new-15bn-asian-fund-to-buy-new-zealands-natural-pet-food.html
