Australian pet foods firm considers sale-adviser

Tue Nov 8, 2011 4:56am GMT

"It is a business that has been consistently approached by private equity and competitors," Miles said.

Australian private equity firms have a track record of investing in food manufacturing and wholesaling, including Pacific Equity Partners' chicken business Tegel Foods, sold to Affinity Equity Partners in January, and Lazard Private Equity's former investment in biscuit maker Unibic.

The company was founded by V8 motor racing fan Tony Quinn, and four of his adult children have management roles in the firm.

Miles Advisory has acted for many privately held companies that have eventually been sold to private equity, including V8 Supercars Australia, which sold a 60 percent stake to Archer Capital in May for A$180 million.

Other manufacturers of pet food that sell in the Australian market include Nestle and Mars Inc's Mars Australia.

Global buyout giant TPG has an interest in pet food retail chain Pet Barn in Australia and New Zealand.

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