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.
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