Backed by Legend Capital, the Chinese Pet Food Industry Leader Gambol Pet Goes Public Successfully

On August 16, Legend Capital’s portfolio company, Gambol Pet (301498.SZ), was successfully listed on the ChiNext Market of the Shenzhen Stock Exchange. Gambol Pet plans to issue 40,004,500 shares at an offering price of RMB 39.99 per share, with an estimated total fundraising of approximately RMB 1.6 billion.

Engaged in the R&D, production and sales of pet food and providing multi-series products mainly for dogs and cats, Gambol Pet was founded in 2006 and is a leading pet food company in China. The company started with overseas OEM/ODM businesses and has gradually become a recognized supplier for international enterprises such as Walmart and Spectrum Brands. With the rapid growth of the pet food market in China, Gambol Pet has systematically expanded its presence in the Chinese market since 2013 and established its own brand, Myfoodie, which achieved full-category coverage in pet food, including pet staple food, snacks and health care products.

As one of the leading companies in the pet food industry, Gambol Pet adheres to the concept of "Global Vision, Continuous Innovation" and is committed to producing nutritious and healthy pet food that consumers need. Through its reliable product quality, continuous innovation and efficient sales network, the company made the best of the opportunity of the rapid expansion of the pet food demand in China and has formed a core lineup of proprietary brands with Myfoodie at the center.

Legend Capital invested in Gambol Pet in 2019 and 2020 and helped the company transform from an export-oriented OEM enterprise to a leading pet food enterprise in China driven by its own brand business. After the investment, Legend Capital provided value-added services to the company in various dimensions to support its business at home and abroad, including supply chain resource introduction, business sales channel connection, financial and legal compliance, and talent introduction.

QIN Hua, Chairman and CEO of Gambol Pet, said: “Gambol Pet will take the listing as an opportunity to firmly grasp the strategic window of the rapid development of the pet industry in China. We will adapt to the changes and dynamic trends in pet culture, consumer upgrades, and consumption concepts and continue increasing our products’ market share in domestic and overseas markets. Simultaneously, by continuing to accelerate our global expansion and build our global advantages in technologies, talents, markets, and supply chains, we will keep moving forward and strive to become a highly innovative international enterprise with substantial growth, as well as a leading player in the global pet food industry.”

Raymond CHEN, Co-Chief Investment Officer of Legend Capital, said: “With the continuous improvement of people's living standards, more and more people are getting emotionally attached to pets. The pet industry in China is in its early stages and enjoys broad prospects for future development. Gambol Pet adheres to continuous innovation and emphasizes proprietary brands. Through independent R&D and product innovation, it has formed its core brand, Myfoodie, which surpassed many imported brands and helped Gambol Pet consolidate its leading position in the pet food industry. Mr. QIN Hua, Chairman of the company, is an outstanding entrepreneur with both local experience and a global vision, and we are proud of the team for achieving this remarkable achievement. Congratulations to Gambol Pet on its successful listing.”