Partner in Pet Food (PPF), a leading European pet food manufacturer, has announced CVC Capital Partners IX as its new majority shareholder, joining existing investor Cinven. This partnership aims to accelerate PPF’s European expansion and enhance the health benefits of its products. PPF, operating 12 facilities and supplying over 280 customers in more than 35 countries, produced around 700,000 tons of pet food with revenues of approximately €800 million in 2023. CEO Gerald Kuehr expressed excitement about the new partnership, highlighting CVC’s support for their premiumisation and M&A strategies. CVC’s István Szőke and Jakub Canda praised PPF’s proven business model and leadership team. CVC has a strong track record in central and eastern Europe, with successful investments in companies like FutureLife and D-Marin. The transaction is expected to close in Q3 2024, pending regulatory approval, with financial terms undisclosed.
Advertisement
