This purely international deal saw Europe’s largest producer of pet food complete a €188 million management buy-out.
Provimi Pet Food is the third largest producer of private label wet and dry pet food in Europe, supplying approximately 280 customers, including major grocery retailers, in the 27 markets in which it operates. The business, headquartered in Budapest, employs around 1,000 staff and has eight production facilities across Europe. In 2010, the company reported total sales of €236 million.
The investment by Advent International will support PPF’s growth plans, focused on increasing its market share through organic growth, developing a new range of products and services and entry into new markets.
Managing partner, Phil Burns, and partner, Nick Jones delivered high level strategic advice to the management team and despite the complexities of the group, which operates in eight European countries, the team were able to create a robust financial structure and exceeded aspirations for returns on investment and key commercial terms.