The acquisition covers a number of well-known brands including Häagen-Dazs, Drumstick, Edy’s, Dreyer’s, Outshine, and Skinny Cow. Froneri will become the global #2 ice cream manufacturer following the transaction.

PAI will become the majority shareholder of Armacell.

Maud Brown joins to lead the firm’s activities in the US. PAI has now increased the size of its team by more than 20 professionals worldwide since early 2018 and the close of its €5.1 billion PAI Europe VII fund.

Welcome to the third edition of Connect, which looks back at the last twelve months for PAI Partners – our approach, our people and our investments. This year’s issue has a particular focus on how we help our portfolio companies transform their industries across the globe.

ESG is increasingly front of mind for LPs and GPs alike. But what isn’t clear, is what ‘social sustainability’ really means, and how businesses can incorporate it into their business practices. Cornelia Gomez, our ESG Director, shares her thoughts in an interview with SuperReturn365.

Areas, the #3 global leader in the food & beverage and travel retail markets, and previously a subsidiary of Elior Group, is now a separate company following the completion of its acquisition by PAI Partners.