CVC in Aventis deal

CVC Capital Partners has announced the acquisition of the animal nutrition business of Aventis subject to approval. Funds managed by CVC Capital Partners will acquire the business for an undisclosed sum with debt financing provided by J P Morgan, Barclays Capital, Natexis Banques Populaires, The Royal Bank of Scotland and ABN AMRO. Completion is expected in the first quarter of 2002.

The global nutritional additives market is valued at around $5 billion. Aventis Animal Nutrition is ranked third worldwide, with around a 15 per cent market share. Last year the company reported total sales of EURO577 million and has operations in France, Spain, US, Italy, Russia, Australia, Singapore, Brazil, Canada and Mexico.

Aventis Animal Nutrition started focusing on the improvement of the nutritional value of animal feed in the 1950s as it was at the time proved deficient in proteins and vitamins. Over the years the company has developed products which are systematically used by commercial livestock farmers around the world. The business manufactures and markets a broad range of nutritional feed additives, including the essential amino acid, methionine, as well as vitamins, vitamin premixes and feed enzymes.

Anthony Fobel, director at CVC Capital Partners, said: “We look forward to working with the management team in realising the company’s significant growth potential.”

CVC Capital Partners was advised by Hawkpoint Partners.