Partner in Pet Food (“PPF”), one of Europe’s leading pet food producers, has been acquired by Pamplona Capital Management (“Pamplona”), a global private equity investment firm. Clearwater International advised the management of PPF on the deal which is worth €315m.
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.
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 CEO 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.
UK managing partner Phil Burns, partner Rob Britton and associate Mark Gillingham advised the management of PPF on the transaction.
Attila Balogh, CEO of Partner in Pet Food Group, said: “Having worked with Clearwater on the original MBO of PPF four years ago, Phil and his team were a natural choice to support management once again. Whilst we were familiar with the likely key points of negotiation with PE investors, I knew Clearwater would add a valuable perspective and be at our side at all key moments of the transaction. They are attentive, have deep market knowledge and deliver their advice with real clarity. And all that adds up to making them a pleasure to work with!”
Phil Burns, UK Managing Partner at Clearwater International, added: “PPF is a fantastic business with an excellent history of growth, both organically and via strategic acquisitions. The acquisition by Pamplona will allow this strategy to continue at pace and we look forward to watching its ongoing international expansion.”