CVC Acquires Majority Stake in Partner in Pet Food from Cinven

June 28, 2024

CVC Capital Partners (CVC) has agreed to acquire a majority stake in Partner in Pet Food (PPF), a pan‑European pet food manufacturer, with existing investor Cinven retaining a minority stake and continuing as a partner. PPF operates 12 production facilities across Europe, produced ~700k tonnes and generated approximately €800 million in 2023; the transaction is expected to close in 2024 subject to regulatory approvals.

Buyers
CVC Capital Partners (funds managed by CVC; CVC Capital Partners IX), Cinven (retaining minority stake)
Targets
Partner in Pet Food (PPF)
Sellers
Cinven
Industry
Food & Beverage
Location
Hungary
Transaction Type
Buyout

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