The Permira funds identify long-term macro trends to back market-leading businesses and management teams with strong growth potential to become global leaders. The investment in Grobest is the result of Permira’s continued thematic focus on the food value chain and specifically on aquaculture. This is the fund’s third investment in aquaculture, with Pharmaq and Provimi, and its sixth investment in the food value chain (Arysta LifeSciences, Netafim and CABB).

“We are very pleased to partner with the pioneering team at Grobest, a real R&D leader in advanced aquatic functional feed and health products in Asia, and work closely with them to unlock the company’s full potential on the global journey ahead," said Ola Nordquist, Head of Permira Nordic. 

Grobest was identified by Permira as a highly attractive investment opportunity based on its strong technical capabilities and R&D leadership across warm water species, wide regional presence, and its vision for expanding the business further across Asia and globally. The Founding families, represented by Mr. Ko and Mr. Chen, will continue to play an important role in the development of Grobest.

“We are delighted to partner with Permira as we pursue our plans for further growth in the region and expansion into new markets," commened Mr. Ko. "Permira’s expertise in backing businesses to become global leaders will help accelerate the next stage of Grobest’s development, after more than four decades of innovation and success.”

“I would like to thank our team for all of their hard work, which has been critical to our success to-date and will be even more important going forward," added Mr. Chen. "I am also very pleased to welcome Permira as our new partner, with their expertise in aquaculture and knowledge of how to build and strengthen our business for the next exciting stage of our journey.”

The transaction is expected to close in December 2018 subject to customary closing conditions.