Japanese seafood company Umios expands into Southeast Asia’s fast-growing pet-food market with a majority stake in Pet World International.
Umios has agreed to pay Y11.4bn ($70.4m) for a 51% stake in Malaysia’s Pet World International (PWI), marking its entry into Southeast Asia’s pet-food sector. The deal expands Umios’s product range to include dry dog food, complementing its existing wet cat food business in East Asia, North America, and Europe.
PWI holds the second-largest market share in Malaysia’s dog and cat food market and reported net sales equivalent to Y12.4bn for the year ending September 2023. The company’s sales are growing at an 11.3% compound annual growth rate, while regional markets like the Philippines and Thailand see 10% growth.
Umios highlighted PWI’s strong brand position and plans to leverage its marine procurement capabilities for ingredient sourcing. The acquisition aligns with Umios’s strategy to capitalize on rising pet-food demand in Asia.