Legend joins $70m round for China pet food producer

The company, which received backing from KKR in 2017, has now accumulated RMB900 million in overall funding. The proceeds will go towards production line expansion and the construction of research centers and smart storage facilities, according to Hua Qin, the company's founder.

Founded in 2006 and headquartered in Shandong province, Gambol operated as a sub-contractor for overseas brands for more than 10 years. The company leveraged insights from its foreign partners to establish its own brands. The first of these, Myfoodie, which was launched in 2014, became a top-10 player in China's pet-related product categories. 

Gambol set up a facility in Thailand in 2018 and now generates more than RMB1 billion in annual turnover from products sold domestically and exported to overseas markets. The company claims to launch 2,500 sample products every year, of which 200 go into formal production. said Hua Qin.

“Pet consumption has become an important trend among China’s younger generations. It has supported rapid growth in the pet food industry, which has the potential to become a hundred-billion-renminbi market. Gambol's experience as a contracted producer has enabled it to develop leading research, production and supply chain capabilities.” said Rui Chen, a managing director at Legend Capital.

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• Topics
• Greater China
• Consumer
• Early-stage
• China
• Legend Capital
• KKR