Umios has moved to enter Southeast Asia's pet-food market through a deal for 51% of Malaysia's Pet World International.
The ***** anese seafood giant, formerly known as Maruha Nichiro, has a presence in wet cat food, selling to east Asia, North America and Europe.
The acquisition of a majority stake in Pet World International (PWI) will see Umios enter Southeast Asia and expand its range to dry dog food.
Umios, which is paying Malaysian conglomerate Wah Kong Corporation Y11.4bn ($$70.4m) for the stake in PWI, described Southeast Asia as the "fastest-growing pet-food market" in Asia. The company pointed to the Philippines and Thailand, where it said sales are growing at a compound annual growth rate of 10%.
In a stock-exchange filing, Umios said PWI has a "strong brand position" in Malaysia. Without disclosing figures, the company added PWI "holds the number two market share" in the dog and cat pet food market in Malaysia.
The ***** anese seafood giant, formerly known as Maruha Nichiro, has a presence in wet cat food, selling to east Asia, North America and Europe.
The acquisition of a majority stake in Pet World International (PWI) will see Umios enter Southeast Asia and expand its range to dry dog food.
Umios, which is paying Malaysian conglomerate Wah Kong Corporation Y11.4bn ($$70.4m) for the stake in PWI, described Southeast Asia as the "fastest-growing pet-food market" in Asia. The company pointed to the Philippines and Thailand, where it said sales are growing at a compound annual growth rate of 10%.
In a stock-exchange filing, Umios said PWI has a "strong brand position" in Malaysia. Without disclosing figures, the company added PWI "holds the number two market share" in the dog and cat pet food market in Malaysia.
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