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Advent Buys Hungary’s Provimi For €188M

Advent International has purchased Budapest-based Provimi Pet Food from Permira for €188 million.

Advent International has purchased Budapest-based Provimi Pet Food (PPF) from Permira for €188 million, The Wall Street Journal reports. PPF’s parent, Provimi Group, will use the proceeds to cut it net debt position.

The sale of the wet and dry pet food producer was managed by Credit Suisse. The debt for the acquisition has been arranged by Erste Group Bank, Raiffeisen Bank International and UniCredit, adds Real Deals. Leonardo & Company, CMS and Deloitte advised Advent.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Real Deals.

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