Private equity firms Advent International and CVC Capital are teaming up to launch a joint bid to acquire Partner in Pet Food (PPF), a European animal food brand owned by Cinven, which is seeking around €2bn for the business, according to a report by The Financial Times.
The report cites people familiar with the matter as confirming the joint approach with talks between the parties said to be ongoing, There is no certainty at this stage that a deal will be reached, according to the FT’s sources.
