Travers Smith LLP has advised the senior management team of Partner in Pet Food (“PPF”), a market-leading European pet food manufacturer, on the sale of a majority stake in PPF by Cinven to funds managed by CVC. The closing of the transaction is subject to regulatory approvals and other customary closing conditions.
PPF produces a full range of pet food products from facilities around Europe and supplies more than 280 customers across more than 35 countries, including speciality pet retailers, general food retailers, discounters, and online specialists. Its product range includes both private label and branded pet food and covers all categories, quality tiers and price points, including wet and dry food, snacks and treats in a variety of serving formats. PPF is one of few truly pan-European pet food companies. In 2023, it manufactured c.700 thousand tons of pet food and generated revenues of approximately €800 million.
The Travers Smith team was led by Private Equity & Financial Sponsors Partner Adam Orr, and included Senior Associate Eilidh Morrison, Associates Rebecca Denton and Will Legood, and Trainee Peter Best. Specialist tax advice was provided by Tax Partner Hannah Manning, Senior Counsel Joseph Sheldrick, and Associate Ross McGregor.
