After the acquisition in 2021 of Tropicana and other beverage brands from PepsiCo, for a value of 3.3 billion dollars (3 billion euros), PAI Partners continues its breakthrough in the United States with a new operation of wingspan.
The French private equity firm, which manages some 25 billion euros in assets, has thus announced the acquisition of the animal feed manufacturer Alphia from the JH Whitney Capital Partners fund. While financial details were not disclosed, the deal would value the company (born from the 2020 combination of CJ Foods and American Nutrition) at around $1 billion, including debt, according to multiple sources.
Alphia wants to grow, PAI too
With the support of its new shareholder, Alphia intends to accelerate its growth in North America, both organically and through acquisitions. As part of this transaction, which remains subject to the approval of the competent authorities, Alphia was financially advised by Goldman Sachs. The law firms Weil, Gotshal & Manges and Gibson, Dunn & Crutcher respectively advised PAI and JH Whitney Capital Partners on the legal plan.
The development of PAI across the Atlantic is set to continue. “We continue to see a number of attractive opportunities in the United States and we are determined to establish ourselves in this market,” reacted Maud Brown, who joined PAI in 2019 as a partner and leads the American team. The investment company also recruited Winston Song a little less than a year ago to deal more specifically with the consumer sector in North America.
A segment that PAI knows well. The investment company has notably invested in the past in the beverage manufacturer Refresco, in the animal nutrition companies Royal Canin and Provimi and participated in the creation of the ice cream manufacturer Froneri (resulting from the merger between the European activities of Nestlé Grand Froid and R&R).
2023-08-24 16:43:07
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