Private equity firm Riverside has acquired the Turkish pet food company Tropikal.

Private equity firm Riverside has acquired the Turkish pet food company Tropikal.

Istambul-based Tropikal was founded in 1999, and manufactures the brands Goody and Champion. The company also distributes international brands of pet food.

Tropikal has an in-house research and development department, local raw material sourcing, and direct control over the manufacturing process. The acquisition was made from the Riverside Europe Fund IV, and is Riverside’s eleventh acquisition of 2010.

Under the terms of the deal, the CEO and top management will remain with Tropikal and the company founders will continue as minority investors in the business with Riverside.

Tropikal CEO Izzet Saban says: ‘We look forward to partnering with Riverside to expand organically and further increase the strength of our brands.’

The Riverside Company is a global private equity firm focused on acquiring small and medium-sized companies.

Riverside’s vice president Adam Pietruszkiewicz led the transaction, working with senior associates Jeroen Lenssen and Marcin Goszyk.