Press Release

Partner in Pet Food to acquire Agro-trust

Partner in Pet Food to acquire Agro-trust

15 July 2013

Budapest – Partner in Pet Food, one of Europe’s leading pan-European pet food producers, today announced that it has agreed to acquire the pet food division of Agro-trust, the family owned Hungarian agricultural and pet food company.

Agro-Trust has a reputation for producing innovative, high-quality pet food products. Over the last few years the family-run business has invested in the technology and capabilities required to produce a range of high-quality alucup products, pet food sausages and specialty dried and smoked products.

This investment by PPF will support the company’s growth strategy and allow it to build on its position as a leading pan-European pet food company. The incorporation of Agro-Trust’s alucup range will mean that PPF will be able to offer a full range of products across all the major pet food formats to suit all consumer and retailer needs. It will also expand the company’s offering in the premium and super-premium market segments, building on the strong and accelerating growth of PPF’s pouch products across Europe in the last year. As part of PPF’s on-going growth strategy the company will further invest in Agro-Trust’s alucup product range. This investment will lead to the expansion of Agro-Trust’s alucup production facility, incorporating it into PPF’s pan-European factory network and securing sustainable, high-skilled jobs over the long-term. Subject to regulatory approval, the transaction is expected to be completed by Q4 of 2013. Commenting on the acquisition, Chris Mruck, Managing Partner and Co-Head of Central
Europe, Advent International said: “PPF has clearly become a European market leader in pet food. The new investment will build upon these strong foundations, enabling the business to capitalise on the growth opportunities that exist across Europe.” Attila Balogh, Chief Executive Officer, Partner in Pet Food Group said: “PPF’s acquisition of Agro-Trust’s pet food division is undoubtedly the start of an exciting new phase in the development of our company. It will enable us to offer a full range of all types and formats of pet food to suit all consumer and retailer needs. Through this we will build on the excellent performance of our pouch products across Europe as part of our on-going growth strategy.” Ferenc Kedves, General Manager of PPF Hungary said: “Agro-Trust’s pet food capabilities will give us the ability to develop a high-quality, premium alucup offering for our customers across Europe.”

Róbert Jakus, General Manager of Agro-trust: “The acquisition of our pet food division by PPF will support the further growth of our alucup and pet food sausage production. It will further professionalise our business; enabling our clients to benefit from the rich and varied portfolio of PPF.”

Pelham Bell Pottinger

Tom Cahn - +44-(0)207-861-3899

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 27 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 1,000 staff and has seven production facilities across Europe. The company has total sales of approximately €250 million.
PPF is owned by Advent International, who purchased the company in 2011.