KKR & Co. L.P. has invested in Shandong province-based pet food company Gambol Pet Group via its China Growth Fund, according to a company announcement.
No financial details have been disclosed.
China’s pet food sector is at an early stage compared to other markets. According to Stratop Group, only 13% of Chinese urban households have pet dogs, and packaged pet food penetration is only 14% in China, compared to more than 90% in the US. However, China's pet category is one of the fastest-growing consumer sectors with a compound annual growth rate of over 30% in the past few years, according to the data from Goumin.com.
Founded in 2006, Gambol provides a wide range of pet food products including dry food, wet food, real meat jerky treats, rawhide, chews, and dental bones for customers based in Europe, Asia and North America. It ha...
This news article comes via , who is the copyright owner of this information and news. FintekAsia.com has licensed the rights to this article and any republication or re-distribution in whole or in part of this content is strictly prohibited without the express consent of China Money Network