MEDIA ANNOUNCEMENT
QUADRANT AGREES TO DIVEST THE REAL PETFOOD COMPANY (“TRPC”)
Quadrant Private Equity (“Quadrant”) has entered into an agreement to divest its majority interest in TRPC (formerly VIP Petfoods) to a consortium of investors at a transaction value of A$1billion. The consortium partnership was led by Hosen, New Hope Group and Tamasek. The consortium will partner with existing shareholders including the founders of TRPC and management to lead the business in its next phase of growth through international expansion.
Founded in 1994, TRPC is Australia’s leading independent pet food company and the largest producer of fresh chilled pet food in the world, manufacturing and distributing products locally and internationally. TRPC currently operates manufacturing facilities in Australia and the United States, employing over 800 people and producing in excess of 200,000 tonnes of pet food annually.
Since Quadrant’s investment in TRPC, the business has increased market share in all channels – grocery, speciality and vet, invested in new product development, expanded its manufacturing footprint domestically and internationally and invested in management. During Quadrant’s ownership TRPC revenue has increased from $300million to approximately $500million for the FY2018 forecast.
Chris Hadley, Executive Chairman of Quadrant said “Quadrant invested in TRPC in 2015, alongside the founders and management to accelerate the business’ growth plans. We have worked closely with David and his team to invest significantly in the operations, new product development and international expansion. We are proud of what we have achieved over the past two years and believe David and his team are well placed with their new partners to continue to build TRPC into a world leading pet food business”.
The new investor group will continue to drive innovation and growth in Australia and New Zealand, alongside the Quinn family and management. The partners will also take advantage of their regional and international operations to help grow the Real Pet Food Company internationally, in particular the US market.
David Grant, Chief Executive of TRPC said “For the past two years Quadrant have supported us to grow strongly in our home markets. Now our Asia-Pacific partners are ideally suited to support us as we look to take our success to the Asian market and the North American market.”
Quadrant was advised by PwC and G+T.
Media Contacts Chris Hadley
Executive Chairman
Quadrant Private Equity
+61 2 9221 3044
David Grant
Chief Executive Officer
The Real Petfood Company
+ 0412 584 114
Writen by Global Administrator, 24/10/2017 News