KKR taps new $15bn Asian Fund to buy New Zealand’s Natural Pet Food

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Global private equity major KKR has completed a buyout of high-meat dog and cat food supplier Natural Pet Food Group using its mammoth new Asia Pacific-focused fund.

KKR said the investment would support NPF’s international growth and advance its mission to supply safe, sustainably sourced high-meat pet food from New Zealand.

Michael Robson, managing director of KKR Capstone, said, “Natural Pet Food Group is a pioneer in New Zealand’s sustainable pet food industry, with a strongly defined mission and set of values.

“…this investment also reflects KKR’s commitment to supporting fast-growing companies in New Zealand that are seeking opportunities to expand into new sectors, verticals, and markets.”

KKR raised the biggest private equity fund dedicated to the Asia-Pacific region earlier this month through a $15bn final close.

The firm committed $1.3bn of its own capital to KKR Asian Fund IV, which it said would pursue opportunities stemming from rising consumption and urbanisation trends, as well as corporate carve-outs, spin-offs, and consolidation as companies look to optimize their portfolios.

KKR was understood to have been eyeing up to $12.5bn for the fund – well ahead of the already impressive $9.3bn it gathered for its Asian Fund III in 2017.

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