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.

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.

Advent International has agreed to acquire Provimi Pet Food from the Provimi Group for an Enterprise Value of EUR188 million ($265 million). This transaction is a classic corporate carve-out, separating the consumer-facing pet food business from the B2B animal nutrition parent. Advent plans to rename the business "Partner in Pet Food" (PPF) and support its growth through product innovation and expansion into Western European markets. The deal is subject to regulatory approval and works council consultation.