Quadrant Private Equity Buys V.I.P. Petfoods for $318 Million
Quadrant Private Equity, a private equity firm in Sydney, Australia, is acquiring V.I.P. Petfoods, a manufacturer of chilled dog and cat food and treats in Yatala, Australia, for $317.8 million.
Quadrant will work with the V.I.P. founders, Tony and Christina Quinn, to support the company’s existing management as it continues to grow the business in Australia as well as internationally, especially in the U.S.
The Quinns will reinvest some of the money from the sale back into the business, giving them a minority stake, it was reported in The Australia Financial Times.
Quadrant will have an 85 percent controlling stake.
"We built V.I.P. Petfoods up from nothing—it's now number 15 in the world," Tony Quinn told the Times.
V.I.P. distributes Fussy Cat, Natures Goodness and other brands in Australia, Canada and Korea. The company has launched in the U.S. through HEB Grocery Company LP, a supermarket chain headquartered in San Antonio.
V.I.P. has 600 employees and manufacturers 300,000,000 pounds of pet food annually.