Paine & Partners, a San Mateo, California-based private equity investment firm specialising in the food and agribusiness sectors, has acquired UKbased Spearhead International, one of the European Union’s largest agricultural producers.
Details of the deal, including the price that Paine & Partners is paying, were not disclosed.
The acquisition was described as the first to be made through Paine & Partners’ newest fund, its $893m Paine & Partners Fund IV, which is solely dedicated to agribusiness investing.
As reported, that fund was oversubscribed when it closed in January, when it was said to be the biggest-ever dedicated food and agriculture private equity vehicle yet created.
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