Global private equity investor Riverside has tapped its Riverside Europe Fund IV in order to acquire Tropikal, a Turkish pet food company. The acquisition marks the firm’s eleventh such deal this year. According to the terms of the transaction, Tropikal’s founders will retain a minority stake while the company CEO and management team will remain intact. With a fairly young market for commercially produced pet food in Turkey, Riverside believes the Tropikal investment has good potential as the company expands and introduces new product lines.
Tropikal (www.tropialpet.com.tr)
Tropikal is Turkey’s leading pet food supplier built on the strength if its Champion and Goody products. The company was originally established as a distributor of other pet food brands like Beaphar, Pro Pac, and Sport Mix. In 2005 Tropikal opened its own dry pet food manufacturing plant in Istanbul, complete with in-house R&D, and began producing its own brands of cat and dog food. Today the company continues those products and has added other pet foods and a variety of pet accessories. Tropikal’s products are carried by more than 2,500 retailers in Turkey.
The Riverside Company (www.riversideeurope.com)
Riverside is one of the largest global PE firms specializing in small and medium-sized businesses worldwide. Riverside seeks out investment opportunities with profitable and well-managed businesses in need of expansion capital and expertise. With seven funds at a combined total of €2.4 billion in assets, Riverside has the resources to help portfolio companies expand product lines and markets. Since the company’s inception in 1988, 234 successful transactions have been completed. Riverside investors include banks, endowments, funds of funds, insurance companies, and pension funds.
July 23, 2010
Central & Eastern Europe, Investment, Private Equity News, Turkey