M&A Deal Summary

Advent International Acquires PPF

On June 1, 2011, private equity firm Advent International acquired food company PPF from Permira for 188M EUR

Acquisition Highlights
  • This is Advent International’s 7th transaction in the Food sector.
  • This is Advent International’s 41st largest (disclosed) transaction.
  • This is Advent International’s 5th transaction in Hungary.
Investment Fate
  • PPF was sold to a consortium of financial buyers in 2015 for 315M EUR.
  • PPF was sold to a consortium of financial buyers in 2018.

M&A Deal Summary

Date 2011-06-01
Target PPF
Sector Food
Buyer(s) Advent International
Sellers(s) Permira
Deal Type Secondary Buyout
Deal Value 188M EUR

Target

PPF

Budaörs, Hungary
Partner in Pet Food (PPF) is a pet food manufacturer with nine manufacturing operations across Europe. PPF supplies pet food to more than 250 customers in Europe, including traditional retailers, discounters, speciality pet retailers and online specialists. Its product range covers the main categories of dog and cat food including wet and dry food including single serve products. Partner in Pet Food was founded in 1999 and is based in Budaörs, Hungary.

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Buyer(S) 1

Buyer

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 91.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 187 of 353
Sector: Food M&A 7 of 12
Type: Secondary Buyout M&A Deals 15 of 58
Country: Hungary M&A 5 of 5
Year: 2011 M&A 7 of 15
Size (of disclosed) 41 of 51
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-10 Synventive Molding Solutions

Peabody, Massachusetts, United States

Synventive Molding Solutions, Inc. is a solutions provider to the injection molding industry. Synventive is a designers, manufacturers and suppliers of hot runner systems and related components to the automotive, electronics, healthcare, and consumer packaging industries. Hot runner systems channel molten plastic from injection molding machines into molds. These systems are used in the molding of a variety of plastic products ranging from small medical devices to large automobile parts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-20 J. Malucelli Seguradora SA

Curitiba, Brazil

No. 1 surety bond provider in Brazil.

Sell $410M

Seller(S) 1

SELLER

Permira

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 80.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Permira is a mega-sized private equity firm that targets large company investments around the world. Permira invests to support acquisitions, leveraged buyouts, take-privates, turnarounds, and growth buyouts. Areas of interest include healthcare, financial services, chemicals, consumer products and services, industrial products and services, technology, media, and telecom. Permira will consider opportunities in Europe, Asia, and North America. Permira was formed in 1985 and has offices in Menlo Park, Frankfurt, Luxembourg, London, Hong Kong, Madrid, Milan, Paris, Stockholm, Tokyo, Guernsey and New York City.


DEAL STATS #
Overall 40 of 97
Sector: Food M&A 1 of 3
Type: Secondary Buyout M&A Deals 12 of 29
Country: Hungary M&A 1 of 1
Year: 2011 M&A 3 of 4
Size (of disclosed) 38 of 39
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-01 eDreams

Barcelona, Spain

eDreams is the online travel agency in Southern Europe. It focuses on offering the best selection of flights, hotels and vacation packages through the use of innovative search, packaging and booking engines via the Internet.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-24 Renaissance

Wisconsin Rapids, Wisconsin, United States

Renaissance is a provider of technology-based school improvement and student assessment programs for pre-kindergarten through to senior high (pre-K-12, aged 5-18) schools and districts. The company's products and services, adopted by more than 70,000 schools, are primarily focused on two curriculum areas: reading and mathematics. Renaissance was founded in 1986 and is based in Wisconsin Rapids, Wisconsin.

Buy $440M