Formerly VIP Petfoods, Sydney-based private equity firm Quadrant renamed the company The Real Pet Food Company after acquiring the business from the Quinn family for $410 million in 2015. The Quinn family retained a minor stake and still run the company. Produces 150,000 tonnes of pet food each year. Acquired Nature's Gift in 2015, Ivory Coat in 2017 and Love 'Em in 2018. Quadrant sold its stake in late 2017 for $1bn to a Chinese consortium made up of Hosen Capital, New Hope Group and Temasek.

In 2017 an Asian consortium made up of Hosen Capital, New Hope Group and Temasek bought a majority stake in Real Pet Food Company. Hosen Capital is a Beijing-based private equity firm, Temasek is a large state owned investment company from Singapore, and New Hope Group is China's largest agricultural conglomerate.

Owned by the Quinn family, who previously owned VIP Petfoods and Darrell Lea before selling them both to Quadrant Private Equity in 2015 and 2018 respectively. The Quinns also own a string of businesses in Australia and New Zealand, including motor racing complexes, and Sara Lee Australia, which they rescued from administration in 2024.