KKR Invests in China’s Gambol Pet Group
27 February 2017 - 3:07PM
Business Wire
Partnership to enhance Gambol’s ability to
deliver high-quality pet food worldwide
Global investment firm KKR has invested in Gambol Pet Group (the
“Company” or “Gambol”), a leading provider of high-quality pet food
headquartered in Shandong Province, China.
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Gambol and KKR are partnering to expand the Company’s production
capacity in key markets including China, Thailand, countries in
Europe, and the US, where it is currently the largest private-label
provider of pet treats to Walmart. Gambol further aims to leverage
KKR’s experience in food production and in implementing best
practices in the area of food safety and security to provide even
greater pet nutrition solutions to customers around the world.
Qin Hua, Chairman & CEO of Gambol, said, “High quality pet
food is critical to ensuring the health of pets. By partnering with
KKR, we aim to expand and provide healthy packaged pet food to
customers both overseas and in China. KKR will become a truly
value-added partner to Gambol with their deep expertise in the
global pet sector, with Chinese consumers, and in the area of food
safety.”
Gambol is one of the largest pet food exporters in China,
supplying products to a broad customer base in Europe, Asia and
North America. In its local market, the Company’s “Myfoodie” pet
food brand holds the #1 ranking in China’s pet treat category and
is a leader in the dry food category, according to China Feed
Industry Association. The pet category is one of the
fastest-growing consumer sectors in China with a compound annual
growth rate of over 30% in the past few years, according to the
data from Goumin.com. However, the market is still fragmented and
under-developed, posing opportunities for players like Gambol with
differentiation in technology and product quality.
In addition, China’s pet food sector is still at a nascent stage
compared to other markets. According to Stratop Group, only 13% of
Chinese urban households have pet dogs. Meanwhile, more than 36% of
American households own dogs, according to the American Veterinary
Medical Association. In China, packaged pet food penetration is
only 14%, compared to more than 90% in the US.
Chris Sun, Director at KKR China, said, “Gambol is
well-positioned to capture new opportunities in the pet food sector
globally and in China given Gambol’s extensive industry expertise,
product innovation capabilities and long-term commitment to
producing safe, high- -quality pet food. We look forward to working
alongside this experienced and capable management team to build a
true industry leader in the emerging pet market.”
KKR makes its investment from its China Growth Fund. Further
details of the transaction are not disclosed.
About Gambol
Headquartered in Liaocheng, Shandong Province in China, Gambol
is one of the largest pet food manufacturers in Asia with 6
facilities in China and 1 facility in Thailand. Gambol provides a
wide range of pet food products including dry food, wet food, real
meat jerky treats, rawhide chew, dental bone etc. Through stringent
food safety control through supplier management, raw material test,
processing control, finished product test and after-sales
traceability, Gambol achieves highest industry quality standards
and supplies to a broad customer base worldwide, including US and
Canada Walmart. Gambol was the one of the largest pet food
exporters in China in 2016.
Gambol sells pet food product in the China market through its
“Myfoodie” brand, through both online and traditional retail
channels. Myfoodie ranked #1 in the pet treat category and top 10
in all pet related product categories. For additional information
about Gambol, please visit Company website at www.gambolpet.com
About KKR
KKR is a leading global investment firm that manages investments
across multiple asset classes including private equity, energy,
infrastructure, real estate, credit and hedge funds. KKR aims to
generate attractive investment returns by following a patient and
disciplined investment approach, employing world‐class people, and
driving growth and value creation at the asset level. KKR invests
its own capital alongside its partners' capital and brings
opportunities to others through its capital markets business.
References to KKR's investments may include the activities of its
sponsored funds. For additional information about KKR &
Co. L.P. (NYSE:KKR), please visit KKR's website
at www.kkr.com and on Twitter @KKR_Co.
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version on businesswire.com: http://www.businesswire.com/news/home/20170226005246/en/
Media:New Alliance Consulting International (For KKR
China):New Alliance Consulting InternationalRuby Lu, +86 10
5875 1660ruby.lu@alliance.com.cnorFor KKR:KKR (Asia)Anita
Davis, +852 3602 7335anita.davis@kkr.comorNew Alliance Consulting
InternationalFanny Fang, +86 10 6580 9577fanny@alliance.com.cnorKKR
(New York)Kristi Huller, +1 212 230 9722kristi.huller@kkr.com
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