Umios (formerly Maruha Nichiro) Acquires 51% of Pet World International

Umios (formerly Maruha Nichiro) has acquired a 51% stake in Malaysia's Pet World International (PWI) for Y11.4bn ($70.4m), entering Southeast Asia's pet-food market. PWI holds the second market share in dog and cat food in Malaysia, with net sales of Y12.4bn in the last year and a compound annual growth rate (CAGR) of 11.3%. Umios aims to leverage its procurement capabilities to enhance PWI's operations and expand its product offerings, particularly into dry dog food. The Southeast Asian pet-food market is noted as the fastest-growing in Asia, with sales in the Philippines and Thailand growing at a CAGR of 10%.