Is a $1.06 billion acquisition coming for pet food company Ziwi?
Reuters reports that Chinese private equity firm FountainVest Partners might buy the New Zealand pet food company for about NZ$ 1.5 billion soon.
According to people familiar with the deal, FountainVest has emerged as the likely buyer for the business after outbidding rivals including buyout firms and industry competitors.
So far, company officials haven’t commented yet.
Ziwi was founded by Peter Mitchell in 2002.
Originally a free-range deer farmer, Peter supplied quality meat to pet companies around the world. After being disappointed that his pure and natural raw ingredients were being blended with inexpensive ingredients, he wanted to do better.
Today, Ziwi sells dry and wet cat and dog food, as well as treats.