European petfood producer Partner in Pet Food (PPF) has released its 2013 financials, showing a 6 % rise in annual sales during the year.
Total sales came in at â‚¬225 million (US$308 million), with a total product volume of 400,000 tons. The company more than trebled its UK sales, up 213%, according to PPF's report. Thirty-five percent of sales were from new products, 11% of sales were generated in new markets and there was a 25% increase in branded sales.
PPF significantly increased its presence in the key European markets. In November of 2013 the company signed an agreement to supply Tesco with own-label products for sale in the UK. This builds on the long-standing relationship PPF has with the retailer in Central and Eastern Europe. The company forecasts that in 2014 it will triple its UK sales, along with doubling them in Germany and France.
"PPF has achieved excellent results in 2013 during a difficult market and is now clearly a European market leader in petfood," said Chris Mruck, managing partner and co-head of Central Europe, Advent International. "These results provide a strong foundation for growth in 2014 and beyond. The business has a strong pipeline of opportunities which should allow it to capitalize across Europe."