PARTNER IN PET FOOD (PPF) acquired by ADVENT INTERNATIONAL
Context
Advent International has entered into a definitive agreement to acquire Provimi Pet Food from the Provimi Group. This transaction is structured as a corporate carve-out, separating the consumer-focused pet food business unit from the parent organization's core B2B animal nutrition operations. Following the completion of the transaction, Advent International will rebrand the standalone entity as "Partner in Pet Food" (PPF). The closing of the transaction remains subject to customary regulatory approvals and mandatory works council consultations. The acquisition positions the business under a dedicated consumer-focused sponsor to drive its next operational phase. The post-closing growth strategy engineered by Advent International will focus on accelerating product innovation cycles across the company's manufacturing lines. Additionally, the sponsor will back the company's geographic expansion strategy to increase its market share and distribution footprint across Western European commercial channels.
PARTNER IN PET FOOD (PPF), which reported an EBITDA margin of in 2010, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the AgriFood sector (11.0x).
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Target
Partner in Pet Food (PPF) operates as a developer and manufacturer of high-quality food solutions for dogs and cats. Established in the 1990s and headquartered in Budapest, Hungary, the company’s business model centers on a multi-channel commercial infrastructure. The platform supplies a diversified portfolio of over 600 clients, including grocery retailers, specialized pet store chains, e-commerce platforms, and veterinary clinics across approximately 40 countries. The company functions as Europe's second-largest producer of private-label pet food, delivering dry food, cans, pouches, and snacks, while simultaneously scaling its own regional brand ecosystem which includes PreVital, Shelma, Reno, and Bozita. The organization’s operational architecture is built around an integrated industrial footprint consisting of +10 production facilities located across ten European countries, including France, the Netherlands, Germany, Sweden, and Poland. By controlling this multi-site manufacturing network, PPF manages localized production and supply chain logistics to serve its international retail and clinical accounts.
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Other operations with PARTNER IN PET FOOD (PPF)
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 03/2024 | CVC | PARTNER IN PET FOOD (PPF) | HUNGARY | Petfood |
| 04/2018 | CINVEN | PARTNER IN PET FOOD (PPF) | HUNGARY | Petfood |
| 04/2015 | PAMPLONA CAPITAL MANAGEMENT | PARTNER IN PET FOOD (PPF) | HUNGARY | Petfood |
REFERENCES
Valuation range: EV 100M - 350M EUR
Revenue range: 150M - 250M EUR
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Target: partner in pet food (ppf)
Acquirer: advent international