Permira has agreed to buy half of fish food company Grobest Holdings at a time when Asia’s burgeoning middle class is spending more on a healthier, protein-rich diet.
The European private equity firm's investment places an enterprise value on Grobest of around $1 billion. It will be in a 5050 ownership partnership with the two Taiwanese families that founded Grobest in 1974.
While Grobest already has feed mills spread across Thailand, Vietnam, Indonesia, China as well as Taiwan, it is poised to grow further.
“We think there’s huge potential for this company to continue to grow both organically and through MA,”...