Advent Int?l sells Aviagen

Advent International has sold Aviagen International Group to Erich Wesjohann GmbH & Co. KG, currently a 21% stakeholder in Aviagen. The purchase price has not been disclosed.

Advent International acquired Aviagen in May 2003 in a secondary buyout from BC Partners. During its ownership, Advent has supported the company by making three acquisitions: the purchases of Benelux-based distributor Ross EPI, central European distributor Babolna Breeding Farms, and the US facilities and operations of turkey breeder BUTA. Performance has also been improved through the introduction of new and enhanced products, which resulted in an increase in US market share. In the period from 2002 to 2004, Aviagen’s turnover increased by 25%.

Advent director Humphrey Battcock, who led the Aviagen investment, said: “We have been extremely pleased with our investment in Aviagen which represents a very satisfying gain for our investors. Our investment thesis for Aviagen was three-fold: to improve financial results and commercial responsiveness through the downstream integration of distributors; to improve market share in the US – Aviagen’s largest business; and to strengthen Aviagen’s Nicholas Turkeys operating base.”