Petico, one of Malaysia’s fastest-growing pet food retailers, has recently acquired the assets of Singapore’s failed pet food retailer, Perromart, as it is charting its expansion into the other parts of Southeast Asia.
Co-Founder of Petico, Daniel Choy said the strategic acquisition will allow it to fast-track its Southeast Asia expansion plans. He said, “We will also expand our offering of high quality, nutritious pet food to Singapore pet owners, including some exciting new brands we are bringing to Southeast Asia.”
Choy’s family owns Pet World, the largest pet food manufacturer in Malaysia. Pet World owns well-known brands like ProDiet (for cats), ProBalance (for dogs) and Delizios (white meat for pets). Choy added that its products offer pet owners well-nourished wholesome food for their pets that do not contain excessive chemicals and high amounts of fillers like wheat, corn and soy.
The acquisition will include Perromart’s assets, namely its inventory, customer data, domain name, warehouse equipment and fittings, and IP rights for Perromart’s in-house brands in Singapore and Malaysia. It however does not include Perromart’s liabilities, such as bank loans and trade creditors.
Perromart, a pet food company owned by 25 Holdings became insolvent and was placed in receivership in March 2023. Petico is retaining the Perromart brand name for the foreseeable future and may consider opening a flagship store if the opportunity arises.
The pet food industry in Singapore was valued at US$131 million in 2022 and is expected to grow by more than 5% annually in the next 5 years.
