Uni-President Enterprises Corp. will acquire a 10% stake in Taiwan’s leading pet retailer Wonder Pets Enterprises through a NT$2.75 billion ($85.5 million) private placement, marking the food conglomerate’s latest push into the rapidly expanding pet market.
The investment comes as Taiwan’s pet food market reached approximately NT$30.8 billion ($960 million) in 2023, accounting for roughly half of the country’s total pet industry valued at NT$63.1 billion. The sector is projected to grow at an 8.37% compound annual rate through 2030.
Uni-President’s subsidiary Kaiyou Investment will purchase 4.94 million shares at NT$55.6 each, representing a 12.58% discount to Wanda Pet’s closing price of NT$63.6 on Monday. The transaction will make Kaiyou the second-largest shareholder behind an individual investor holding 11.81%, with Uni-President securing a board seat.
Taiwan’s pet population surged to 1.48 million dogs and 1.31 million cats in 2023, increases of 19% and 50% respectively since 2021. This demographic shift, driven by declining birth rates and urbanization, has created what researchers describe as households where pets may soon outnumber children under 15.
Wonder Pets operates Taiwan’s largest pet retail network with 130 stores under brands including Pet Park, Captain Dog & Cat, and Caddo Pet. The publicly-listed company reported first-half revenue of NT$15.72 billion, up 12.69% year-on-year, with plans to add 15-20 new locations this year.
The partnership leverages Uni-President’s extensive distribution network, including over 7,000 retail points through 7-Eleven, Carrefour and other channels. Uni-President has operated in the pet food sector for two decades with brands like Pao-To-Fu and Petlife, with its health-focused product line recording 161% sales growth last year.
Taiwan imports approximately 70% of its pet food, with total imports reaching a record $276.8 million in 2024. The deal positions both companies to compete more effectively against international brands while targeting expansion into neighboring Asian markets where Uni-President maintains established operations.
