Press Release

Pamplona Capital Management to acquire Partner in Pet Food

Pamplona Capital Management to acquire Partner in Pet Food

2 April 2015

Pamplona Capital Management (“Pamplona”), a global private equity investment firm, and Partner in Pet Food (“PPF”), one of Europe’s leading pet food producers, today announce the acquisition of PPF by Pamplona for €315 million.

Pamplona Capital Management (“Pamplona”), a global private equity investment firm, and Partner in Pet Food (“PPF”), one of Europe’s leading pet food producers, today announce the acquisition of PPF by Pamplona for €315 million.

PPF is one of Europe’s largest producers of private label wet and dry pet food, supplying the continent’s top retailers across 37 countries.

Since Advent acquired the business in 2011, PPF has dynamically grown sales, predominantly through new products and innovation. The company has made significant investments in its industry-leading R&D and production capabilities in recent years, along with strategic acquisitions. This investment has enabled PPF to drive significant increases in sales, particularly through the launch of premium alucup and single serve pouch products.

Pamplona is backing PPF’s current management team led by CEO Attila Balogh, who will become Executive Chairman, and will continue to invest in the business to support organic growth. The business plans to accelerate product innovation across both its private label and branded offerings and will also look to grow through further innovations and acquisitions in both Western and Central Europe. Pamplona has a strong track-record of investing long-term capital in market leading companies that are managed by exceptional management teams.

Attila Balogh, Chief Executive Officer, Partner in Pet Food Group, said:

“Pamplona’s investment in PPF is the start of an exciting new phase of our company’s development. Under Advent’s stewardship, PPF has gone from strength to strength, expanding across Europe into new categories and delivering excellent growth rates. We look forward to working with Pamplona as we start the next stage of our development, where we will look to continue organic growth while focusing on strategic acquisitions.”

Markus Noe-Nordberg, Partner, Pamplona Capital Management, said:

“PPF is one of Europe’s leading pet food producers. We look forward to working with Attila Balogh and his management team to grow the company further. PPF has a superb track-record of delivering organic growth and is a natural consolidator in the European pet food.”

During the transaction PPF’s management was advised by Clearwater International and Eversheds. Pamplona was advised by Citigroup and Kirkland & Ellis.

Media enquiries for Pamplona:
Temple Bar Advisory
Ed Orlebar - +44 (0)7738 724 630
Alycia MacAskill - +44 (0)7776 253 482

Media enquiries for Partner in Pet Food:
Bell Pottinger
Clinton Manning - +44 (0)203 772 2560
Tom Cahn - +44 (0)7917 242 078

About Pamplona Capital Management

Pamplona Capital Management is a London and New York based specialist investment manager established in 2005 that provides an alternative investment platform across private equity, fund of hedge funds and single manager hedge fund investments. Pamplona Capital Management, LLP manages over EUR 6 billion in assets across a number of funds for a variety of clients including public pension funds, international wealth managers, multinational corporations, family offices and funds of hedge funds. Pamplona is currently managing its fourth private equity fund, Pamplona Capital Partners IV LP, which was raised in 2014. Pamplona invests long-term capital across the capital structure of its portfolio companies in both public and private market situations.
Please see www.Pamplonafunds.com for further information.

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 37 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.

www.ppfeurope.com