SunRice Group, a world meals enterprise based mostly in Australia, introduced its acquisition of SavourLife, an Australian pet meals firm. SunRice Group’s animal diet division, CopRice, will purchase the pet meals firm for AUD $20.3 million (US$13.4 million).
SunRice’s CEO Paul Serra mentioned the acquisition positions CopRice to additional develop into the branded companion animal market the place there’s a rising demand for premium merchandise. “CopRice already manufactures SavourLife’s pet food vary,” mentioned Serra. “The acquisition will use CopRice’s current manufacturing services and provide chain to enhance efficiencies and supply future progress alternatives.”
Based in 2013 by Michael and Kimberlee McTeigue, Sydney-based SavourLife donates half its income to canine rescue teams and has given $8 million in help to those organizations since its starting. SunRice mentioned it should proceed SavourLife’s mission of donating 50% of income to canine rescue organizations.
The McTeigues will stay with the enterprise post-transaction, together with all staff. In response to Michael McTeigue, SavourLife has no plans to alter its crew, formulation, social mission or donation mannequin.
“By being a part of the SunRice Group, we may have entry to the sources, pet diet experience and manufacturing capabilities of certainly one of Australia’s most skilled meals firms,” mentioned Michael McTeigue. “We may even have the backing of a world firm that carries at its coronary heart the farmers’ ethos of constructing a distinction, which importantly aligns with our personal values right here at SavourLife.
“That is about two Australian firms that align of their functions coming collectively,” he added. “It’s an enormous alternative for the SunRice Group to assist develop our enterprise, which can develop our means to ship on our mission.”
The transaction is anticipated to be accomplished August 30, 2024.
The SunRice Group is a world FMCG enterprise and certainly one of Australia’s main branded meals exporters, listed on the Australian Inventory Change, with vital markets in america, the Pacific and the Center East, in addition to increasing markets throughout Europe and Asia.
SavourLife is a family-owned, Australian firm impressed by a love for canine and a need to make a distinction. The corporate makes pure, Australian-made meals and treats for canine and donate 50% of income to pet rescue organizations; serving to them save and rehome deserted canine.
