Note however that Provimi has a strong presence in fast growth markets and a focus on high value products. Provimi is active in promising markets such as Brazil, Mexico and Russia. Note that Provimi’s EBITDA rose by 47% last year in Brazil and by 35% in Russia.
This is the third time that Nutreco is looking to take over Provimi. Nutreco is clearly interested in Provimi but refuses to pay an excessive price. Provimi has been owned by Permira (private equity) since Jan 2007.
Provimi sold its pet feed business (mainly private label for supermarkets) earlier this year. Provimi has therefore become a more attractive prey for Nutreco. Other potential acquirers include ADM and Bunge.
