After its partners from Singapore and China have made an equity investment, Australia’s Real Pet Food Co. (RPF) has increased by US$161.2 million (A$242 million) in June 2023.
The 29-year-old RPF received its latest investment from Temasek, Hosen Capital, and New Hope Group. These investors have aquired RPF from Quadrant Private Equity in 2017.
RPF owns around 17 dog and cat food brands including Fussy Cat, Ivory Coat, and Trilogy and operates 6 production facilities across the country. The pet food company sees itself as Oceania’s biggest pet food manufacturer and among the top 20 in the world.
The new investment shall be used to get new strategic employees and to bring more products to the markets.
Next to this, the consumer goods production company Lion Corp Thailand has decided to become part of Thailand’s pet food industry, as reported by the Bangkok Post.
Currenty, Lion Corp provides different pet care products from Japan under „Lion Pet Care“. In the future, the company aims to provide pet food also thinking about the two options of either cooperating with Thailand’s private label producers or of rootedly manufacturing their own pet food. So far, the company would import pet food from Japanese origin.
“Lion has been in the Japanese pet food business for decades, and we believe it is the right time to enter the Thai pet market, which is substantial and continues to grow each year,” president Boonyarit Mahamontri explained. “People are willing to spend on pet products in Thailand, even with relatively higher prices.”
By expanding into Thailand’s rising pet food industry, Lion belongs to a steadily rising number of companies from various industries. At the end of last year, a couple of fish canning companies have revealed their decisions to expand into pet food production. That is why, the Ministry of Commerce’s Department of Business Development expects the pet market in Thailand to increase to 66.748 billion baht (US$1.93 billion) in 2026 at a yearly rate of 8.4%.