KUALA LUMPUR (June 27): Private equity firm Creador has acquired a 40% stake in Malaysian pet food maker Pet World International Bhd for an undisclosed sum.

Creador bought the stake from both the founding family and COPE Private Equity, according to a statement on Wednesday (June 27).

Founded in 2006 by entrepreneur Choy Peng Yew, Pet World International has grown to become the largest local pet food brand in Malaysia with reputable brands such as “ProDiet”, “ProBalance” and “Delizios”. It offers a wide range of products in both standard and premium formulations for cats and dogs, available in over 20,000 points of sale across the country.

In the past three years, Pet World International’s pet care segment grew at an impressive 27% compound annual growth rate, fuelled by continuous product innovation and entrenched distribution network.

“We are thrilled to be embarking on our next phase of growth alongside Creador. This partnership is truly a strategic alignment with a shared vision of prioritising pet wellness and providing uncompromising pet nutrition,” said Choy, who is the founder and chief executive officer of Pet World International.

Creador founder and CEO Brahmal Vasudevan said the firm is well positioned to leverage its regional expertise as well as merger and acquisition capabilities to help accelerate the expansion of the pet food maker.

According to news reports, Pet World International is planning an initial public offering in Singapore to raise up to US$100 million (RM467 million), with a debut expected as early as late 2023.

The IPO could serve as an exit for COPE, Malaysia’s homegrown Shariah-compliant private equity firm.

COPE's investment in Pet World International since 2021 has enabled the company to establish a world-class manufacturing plant in Shah Alam to meet the ever-increasing demand for pet food.