The Hong-Kong-based private equity firm Fountain Vest Partners is planning to acquire pet food manufacturer Ziwi. Financial terms of the transaction have not been disclosed. The transaction values Ziwi at 1.06 bn dollars, reports Bloomberg News, quoting unnamed sources.
"This signing is an important milestone in our global growth ambitions, which we had back in 2004 when the company was established," said Richard Lawrence, managing director of Ziwi. He will continue to lead the company with his management team. The management will invest in the company again.
The purchase agreement concluded is subject to the approval of the New Zealand government.