SunRice Group, an Australian global food enterprise, has announced its acquisition of SavourLife, a prominent Australian pet food company. The deal, executed through SunRice’s animal nutrition division, CopRice, is valued at AUD $20.3 million (US$13.4 million).
Paul Serra, CEO of SunRice, emphasized that this strategic move allows CopRice to deepen its penetration into the branded companion animal market, which is witnessing increasing demand for premium pet products. “CopRice already manufactures SavourLife’s dog food range,” Serra stated. “This acquisition will leverage CopRice’s existing manufacturing infrastructure and supply chain to enhance efficiencies and foster future growth.”
SavourLife, established in 2013 by Michael and Kimberlee McTeigue in Sydney, is known for its philanthropic mission, donating half of its profits to dog rescue groups. To date, the company has contributed $8 million to these organizations. SunRice has pledged to uphold SavourLife’s commitment to donating 50% of profits to dog rescue initiatives.
The McTeigues will remain integral to the business following the acquisition, along with the entire SavourLife team. Michael McTeigue assured that there are no plans to alter the company’s team, formulas, social mission, or donation model.
“Joining the SunRice Group provides us with access to extensive resources, pet nutrition expertise, and advanced manufacturing capabilities from one of Australia’s most seasoned food companies,” Michael McTeigue commented. “Moreover, we are supported by a global entity that shares our core values of making a significant impact, much like our ethos at SavourLife.”
“This merger represents a unification of two Australian companies with aligned purposes,” he added. “It’s a significant opportunity for the SunRice Group to bolster our business, enhancing our capacity to fulfill our mission.”
The acquisition is scheduled to be finalized by August 30, 2024.
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