Loo.  Choy’s family owns the largest pet food manufacturer in Malaysia – Pet World International (PWI), which is behind well-known brands like ProDiet (for cats), ProBalance (for dogs) and Delizios (white meat for pets).  While Petico and PWI are completely separate companies in separate industries – PWI is a pet food manufacturer, while Petico is a pet food retailer – some of the recent news surrounding PWI reflects the intense investor interest in the broader pet sector right now.  A snapshot of the marketplace PWI was recently in the news after Kuala Lumpur-based private equity firm, Creador, acquired a 40 per cent stake in it from COPE Private Equity and Pet World’s founding family. Creador’s founder and CEO Brahmal Vasudevan said his firm will assist PWI in M&A capabilities and international expansion. The deal marks Creador’s 50th investment since its establishment in 2011. In February, Reuters reported that PWI was mulling an IPO in Singapore, seeking to raise $100 million, as early as end-2023. COPE invested in PWI in 2021. Since then, the pet food company has built a manufacturing plant in Shah Alam, Malaysia. It has a monthly capacity of 3,000 tonnes, and future expansion is in the works. PWI products are sold across over 20,000 points of sale across the country, Creador said in its announcement. The brand’s pet care segment grew at a 27 per cent CAGR in the past three years. The pet care industry in Asia Pacific has captured a lot of interest from private equity houses.  L Catterton recently injected $60 million in India-based Drools as its first investment in the sector in the country. Before that, the US investor had invested in China’s premium freeze-dried pet food company Partner Pet. The story so far The pet food industry in Singapore was valued at US$130.90 million in 2022 and is expected to grow by more than 5 per cent annually in the next five years, according to  Statista. According to Choy, in a rapidly growing pet food market like Singapore, Petico’s strategy to capture market share hinges on its unwavering commitment to provide pet owners with high quality pet food. “Just like us, pets deserve wholesome and balanced nutrition, and we strive to meet this need by incorporating a significant amount of real meat and  quality ingredients into our products,” he told Inside Retail. Petico will be offering vouchers to the customers left disappointed by Perromart’s closure, which they can apply to their unused credits, and the business is looking to reimburse customers for their loyalty points once the system migration is completed. “In Malaysia, we had developed a reputation for speedy fulfilment of customer orders.  We plan to do the same in Singapore. Our customers can expect to get their orders between a day to three days after placing them,” he added. The plan ahead Choy said that the plan is to keep the Perromart brand name for the foreseeable future. A marketing campaign for Perromart will be rolling out soon, aimed at reestablishing its reputation for fast and easy delivery. Petico is in the process of drawing up a meticulous roadmap for its future expansion plans. Choy wants to make sure that the expansion is well-informed and aligned with the interests of each market. “At the heart of our strategy is a commitment to being customer focused. We recognise that customer satisfaction is the cornerstone of any successful business. This extends to minimising delivery times, ensuring prompt and reliable customer service,” he noted. He is not ruling out opening up a flagship store in Singapore. While the omnichannel approach has served the company well in Malaysia, Choy is remaining on the lookout for strong business opportunities in this new market. “For example, cat ownership is highly popular in Malaysia, and we have a strong, diverse offering of high quality, affordable cat food brands for this market. Similarly, we seek to replicate this approach in other markets that we expand to,” he said. Interestingly, Choy stated that the company plans to expand its business offerings into the veterinary space, which will help them gain valuable insights into the distinct health needs of pets in different regions.