European pet food business | Image:Partner in Pet Food
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Private equity giants Advent International and CVC Capital have joined forces in a bid to acquire Partner in Pet Food (PPF), a prominent player in the animal food industry in Europe, currently owned by Cinven, according to a report by the Financial Times on Sunday .
While negotiations are ongoing, the outcome remains uncertain, according to the report, quoting people familiar with the matter.
Previously, Cinven had set a valuation target of approximately 2 billion euros ($2.16 billion) for PPF, as per the