FDBusiness.com

Pamplona Capital Management, a London and New York based global private equity investment firm, has acquired Partner in Pet Food, one of Europe’s leading pet food producers, for €315 million from follow private equity firm Advent International.

PPF is one of Europe’s largest producers of private label wet and dry pet food, supplying the continent’s top retailers across 37 countries. Headquartered in Budapest, PPF is the second largest producer of private label wet and dry pet food in Europe, offering a full range of cat and dog food products including; dry; cans; alucups; pouches; semi moist; snacks and cat milk. The business employs around 1,200 staff and has eight production facilities across Europe in Hungary, Slovakia, the Netherlands and the Czech Republic.

Since Advent acquired the business in 2011, PPF has dynamically grown sales, predominantly through new products and innovation. The company has made significant investments in its industry-leading R&D and production capabilities in recent years, along with strategic acquisitions. This investment has enabled PPF to drive significant increases in sales, particularly through the launch of premium alucup and single serve pouch products.

Pamplona is backing PPF’s current management team led by Attila Balogh, who will become executive chairman, and will continue to invest in the business to support organic growth. The business plans to accelerate product innovation across both its private label and branded offerings and will also look to grow through further innovations and acquisitions in both Western and Central Europe. Pamplona has a strong track-record of investing long-term capital in market leading companies that are managed by exceptional management teams.

Attila Balogh, chief executive of Partner in Pet Food Group, says: “Pamplona’s investment in PPF is the start of an exciting new phase of our company’s development. Under Advent’s stewardship, PPF has gone from strength to strength, expanding across Europe into new categories and delivering excellent growth rates. We look forward to working with Pamplona as we start the next stage of our development, where we will look to continue organic growth while focusing on strategic acquisitions.”

Markus Noe-Nordberg, partner in Pamplona Capital Management, says: “PPF is one of Europe’s leading pet food producers. We look forward to working with Attila Balogh and his management team to grow the company further. PPF has a superb track-record of delivering organic growth and is a natural consolidator in the European pet food.”