Press Release

Advent International agrees to sell Partner in Pet Food to Pamplona Capital Management

Advent International agrees to sell Partner in Pet Food to Pamplona Capital Management

2 April 2015

April 2nd 2015, London - Advent International, one of the largest and most experienced global private equity investors, today announced that it has agreed to sell Partner in Pet Food (“PPF”), a leading European manufacturer of private-label pet food, to Pamplona Capital Management (“Pamplona”) for an enterprise value of €315 million.

Headquartered in Budapest, Hungary, PPF offers a full range of high-quality cat and dog food products, including dry food, cans, alucups, pouches and snacks.

Since acquiring the business, through a corporate carve-out from Provimi Group in 2011, Advent has worked alongside the original management team to rebrand the company, establish a standalone corporate structure, increase PPF’s footprint across Europe and introduce new product lines. Sales increased significantly over the period, both organically and through the acquisition of Agro-Trust in 2013, which enabled PPF to enter the premium, alucup pre-packaged segment. Operational improvements and product innovation, particularly the focus on developing single-serve products, also resulted in increased profitability.

With Advent’s support, whilst continuing to consolidate its position in Central and Eastern Europe, PPF entered new markets including Italy and Scandinavia and increased its presence in the United Kingdom, Germany, France, Slovenia and Croatia. Today, through its eight production facilities across Europe, PPF supplies leading international and local retailers in over 36 countries.

Chris Mruck, Partner, Advent International, said: “We would like to thank PPF’s management team for their outstanding commitment and the results they have achieved over the last four years. Together we have transformed PPF into a leading European private-label pet food producer.”

Milan Kulich, Director, Advent International, added: “PPF’s innovative products, broad geographic footprint and industry-leading R&D and production capabilities help to ensure that the company is well positioned to maximise its potential going forward.”

Attilla Balogh, Chief Executive Officer, Partner in Pet Food, said: “It has been a pleasure working with Advent. Their deep understanding of the business, particularly on the operations side, has helped the company thrive at a time when many other European consumer goods companies have faltered. Since the carve-out in 2011, we have gone from strength to strength and are excited about entering our next phase of growth in partnership with Pamplona.”

The transaction is subject to antitrust approval and consultation with PPF’s works council.

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. Since inception, the firm has invested in more than 290 buyout transactions in 39 countries and today has €25 billion in assets under management. With offices on four continents, Advent has established a globally integrated team of over 180 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments across five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology, media and telecom. After 30 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit

About Partner in Pet Food

Partner in Pet Food (PPF) is an innovative and leading European pet food producer, supplying over 200 customers, including major grocery retailers, in the 36 markets in which it operates. PPF is the second largest producer of private label wet and dry pet food in Europe, offering a full range of high quality cat and dog food products including; dry; cans; alucups; pouches; semi moist; snacks and cat milk.

The business, headquartered in Budapest, employs around 1,200 staff and has eight production facilities across Europe in Hungary, Slovakia, the Netherlands and the Czech Republic.

For more information, visit