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Riverside acquires pet food company in Turkey

Private equity firm Riverside has acquired Tropikal, an Istanbul, Turkey-based pet food company.

Tropikal began as a distributor for international pet care brands like Sport Mix, Pro Pac and Beaphar.

In 2005, the company became the first domestic pet food producer in Turkey and launched its own product range when it established a dry pet food factory in Istanbul with an annual capacity of 7,500 tons.

Tropikal’s top-selling products are Goody and Champion.

The founders will continue as minority investors in the business together with Riverside, while the chief executive and other top management will remain with Tropikal.

Adam Pietruszkiewicz, Riverside vice president, says: “The Turkish pet food market is relatively young, but growing at an exciting pace. We’re delighted to keep contributing to Tropikal’s growth and development, reinforcing its market leadership position and expanding its product offering and further brand development in the years ahead.”

İzzet Saban, Tropikal chief executive, adds: “Tropikal is very proud to have developed the leading pet food company in Turkey. Our R&D capabilities and control of the manufacturing process allow us to deliver high quality products that successfully compete with strong international brands. We look forward to partnering with Riverside to expand organically and further increase the strength of our brands.”

The acquisition was made from Riverside Europe Fund IV.

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