Gambol Pet Group, a Chinese pet food manufacturer, entered the Shenzhen Stock Exchange on August 16. The company issued 40,004,500 shares, each priced at RMB 39.99 ($5.49 USD), resulting in an estimated capital raise of RMB 1.6 billion ($219.7 million USD).
Established in 2006, Gambol Pet specializes in pet food product research, development, production, and sales, offering an array of food options for dogs and cats. Originally serving as an OEM/ODM supplier, the company ventured into launching its own pet food brand, Myfoodie, in 2013.
Chinese private equity firm Legend Capital made strategic investments in Gambol Pet in 2019 and 2020, providing essential support, including access to supply chain resources, sales network connections, and assistance with financial and legal compliance. These investments facilitated the expansion of the company’s operations.
Raymond Chen, co-chief investment officer of Legend Capital, emphasized, “With the continuous improvement of people’s living standards, more and more people are getting emotionally attached to pets. The pet industry in China is in its early stages and enjoys broad prospects for future development. Gambol Pet adheres to continuous innovation and emphasizes proprietary brands. Through independent R&D and product innovation, it has formed its core brand, Myfoodie, which surpassed many imported brands and helped Gambol Pet consolidate its leading position in the pet food industry.”
As the Chinese pet food market experiences rapid expansion, Gambol Pet has emerged as a prominent player, as stated by Legend Capital. The company upholds its guiding principle of “Global Vision, Continuous Innovation,” with a focus on delivering nutritious and health-conscious pet foods that align with evolving consumer preferences.
Qin Hau, chairman and chief executive officer of Gambol Pet, declared, “Gambol Pet will take the listing as an opportunity to firmly grasp the strategic window of the rapid development of the pet industry in China. We will adapt to the changes and dynamic trends in pet culture, consumer upgrades and consumption concepts, and continue increasing our products’ market share in domestic and overseas markets. Simultaneously, by continuing to accelerate our global expansion and build our global advantages in technologies, talents, markets and supply chains, we will keep moving forward and strive to become a highly innovative international enterprise with substantial growth, as well as a leading player in the global pet food industry.”