KKR (KKR) Reports Acquisition of Natural Pet Food Group
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KKR (NYSE: KKR) and Natural Pet Food Group, today announced the completion of KKR’s acquisition of Natural Pet Food Group. The investment will be used to support the Company’s international growth and advance its mission to supply safe, sustainably sourced high-meat pet food from New Zealand to more customers and their pets worldwide.
Neil Hinton, CEO of Natural Pet Food Group said, “My team is excited about the opportunities and connections that KKR can provide. Our business is about providing pet owners with the very best in natural, high-meat nutrition for the four-legged members of their families. KKR has an impeccable pedigree in our sector which will help us grow, develop new products and take our brands to new customers and new markets, all over the world.”
“It’s a great result not only for our company but also our supply partners, farmers and seafood suppliers from all over New Zealand and our manufacturing partners in Hawke’s Bay and Gisborne. We also recognize our outgoing shareholders, in particular Pioneer Capital, for their contribution over the years, which laid the foundation for this next exciting phase. This is another fantastic ‘paddock to plate’ New Zealand story that builds on our quality nutrition, safety and ethical credentials and the strong partnerships that underpin our business. KKR’s investment marks the next phase of our evolution and their support is a strong endorsement of the outlook for our business,” added Mr Hinton.
Pet owners around the world are increasingly seeking the highest-quality, low carbohydrate diets for their pets to improve their long-term health and wellness. Natural Pet Food Group brands provide pet owners with a variety of nutritious, 100% New Zealand made pet food produced from high-quality, locally sourced wholefood ingredients.
Michael Robson, Managing Director of KKR Capstone and joining member of Natural Pet Food Group’s Board of Directors, 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. We could not be more excited to work with Neil and his talented team to support the Company’s operations by leveraging KKR’s experience, network, and expertise to strengthen Natural Pet Food Group’s leadership in key markets and create opportunities in new ones. 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 will fund its investment from KKR Asian Fund IV. Additional details of the transaction are not disclosed.
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