THE BRIEF
In July 2015, Quadrant announced the acquisition of The Real Petfood Company (renamed from V.I.P Petfoods) for $410 million. Established in 1994, TRPC is the largest independent Petfood manufacturer in Australia and New Zealand (and top 20 in the world) and operates 6 manufacturing plants throughout Australia. TRPC manufactures over 150,000 tonnes of food and employs over 600 people throughout the country.
OUR APPROACH
Quadrant was first attracted to TRPC due to its leading position in the chilled Petfood market, attractive market fundamentals and consumer trends toward natural products, significant barriers to entry and a number of growth opportunities including.
Our investment thesis is focussed on optimising operations, growth opportunities via acquisition and global expansion, new product development into the grocery and pet specialty channel, price optimisation and investment in management and systems.
So far, Quadrant has achieved a number of strategic and operational improvements including
- Rebranding of V.I.P Petfoods to The Real Petfood Company
- Acquisition of Nature’s Gift, Dr Billinghurst and Tucker Time enhancing TRPC’s position in the organic and natural food segments
- Driving new product development including product range launches into pet specialty, grocery and into offshore markets
- Investment in a management capabilities including CEO, CFO, supply chain, operations, marketing and human resources