At what enterprise value was PARTNER IN PET FOOD (PPF) acquired in 2024?

During the acquisition of PARTNER IN PET FOOD (PPF) by CVC in 2024, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the AgriFood industry currently tracks an average EBITDA multiple of 10.5x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of PARTNER IN PET FOOD (PPF) when it was acquired by CVC?

The estimated EV/EBITDA multiple for PARTNER IN PET FOOD (PPF) is in the range of 15x - 25x. For comparison, the AgriFood sector currently shows an average EBITDA multiple of 10.5x. Join our community for free to access full valuation data and industry trends.

When was PARTNER IN PET FOOD (PPF) acquired by CVC?

PARTNER IN PET FOOD (PPF) was acquired by CVC in 2024.

What was the revenue of PARTNER IN PET FOOD (PPF) at the time of the deal?

The revenue of PARTNER IN PET FOOD (PPF) at the time of the deal is estimated to be in the range of 450M - 900M EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of PARTNER IN PET FOOD (PPF) during the acquisition?

PARTNER IN PET FOOD (PPF)'s EBITDA is estimated to be in the range of 100M - 200M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the PARTNER IN PET FOOD (PPF) acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the PARTNER IN PET FOOD (PPF) deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.petfoodindustry.com/pet-food-market/news/15667143/partner-in-pet-food-partner-in-pet-food-targeted-by-private-equity-in-joint-bid

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Home Database AgriFoodPARTNER IN PET FOOD (PPF)

03/2024

PARTNER IN PET FOOD (PPF) acquired by CVC

HUNGARY Food Processing / Petfood EV 1b - 4b EUR

Context

CVC Capital Partners has agreed to acquire a majority stake in Partner in Pet Food from Cinven. This transaction follows a competitive process where CVC and Advent International had initially explored a joint bid. Ultimately, CVC proceeded as the sole majority acquirer, while Cinven retained a minority stake to benefit from future upside. The new partnership aims to accelerate PPF's M&A strategy and continue its shift toward premium products. The current management team, led by CEO Gerald Kuehr, will remain in place.

As a reminder, the company has already undergone several LBOs, notably with Pamplona Capital Management in 2015 and Cinven in 2018. These multiple LBO cycles illustrate the strong interest in this type of asset.

PARTNER IN PET FOOD (PPF), which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the AgriFood sector (10.5x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

-> Deep-dive in AgriFood market trends

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)

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
04/2018	CINVEN	PARTNER IN PET FOOD (PPF)	HUNGARY	Food Processing	Cinven has acquired Partner in Pet Food (PPF) from Pamplona Capital Management. This Secondary Buyout sees the exit of Pamplona, which had owned the business since 2015. Cinven was attracted by PPF's market-leading position in the fragmented European market and plans to accelerate growth through further acquisitions (Buy-and-Build) and product premiumization. The current management team, led by CEO Attila Balogh, will remain in place to drive the next phase of growth.
04/2015	PAMPLONA CAPITAL MANAGEMENT	PARTNER IN PET FOOD (PPF)	HUNGARY	Food Processing	Pamplona Capital Management has acquired Partner in Pet Food (PPF) from Advent International. This secondary buyout marks a successful exit for Advent, which originally carved out the business (then Provimi Pet Food) in 2011 for EUR188 million. Under Advent's ownership, PPF consolidated its position in Central & Eastern Europe and expanded into Western Europe (notably the Netherlands). Pamplona intends to back the current CEO, Attila Balogh, and continue the buy-and-build strategy to create a pan-European champion.
03/2011	ADVENT INTERNATIONAL	PARTNER IN PET FOOD (PPF)	HUNGARY	Food Processing	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.

REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 450M - 900M EUR

EBITDA range: 100M - 200M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of PARTNER IN PET FOOD (PPF) by CVC are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Target: partner in pet food (ppf)

Acquirer: cvc