The Birmingham office of Clearwater International has advised on the €315m (£229.8m) acquisition of Partner in Pet Food (PPF) by equity investment firm Pamplona Capital Management.

Hungary-headquartered PPF was bought by Advent International in 2011 and has achieved growth through new product development and significant investments in research and development.

Pamplona has backed the pet food producers' current management team led by chief executive Attila Balogh, who will become executive chairman.

"Pamplona's investment in PPF is the start of an exciting new phase of our company’s development," he said.

Clearwater International's managing partner Phil Burns, partner Rob Britton and associate Mark Gillingham advised PPF on the deal. Eversheds also advised the company.

Burns added: "PPF are a fantastic business with an excellent history of growth, both organically and via strategic acquisitions.

"The acquisition by Pamplona will allow this strategy to continue at pace and we look forward to watching their ongoing international expansion."