TPG and CD&R in talks for pet care giant Covetrus Investment fund managers TPG and Clayton, Dubilier & Rice are involved in a private offering to acquire American private pet care company and provider of animal health products Covetrus, which has a $5bn turnover, for $21 a share. Read more.

Pret in talks to launch in India Pret A Manger, the JAB Holdings-owned brand, is in talks with Reliance Retail to launch in India as part of its plan to expand into five new markets by the end of 2022. Read more.

PAI Partners and TPG working on a joint offer for Parkdean Private equity firm PAI Partners and American investment company TPG have partnered up for an offer for Parkean Resorts, which runs 66 holiday parks in the UK. Read more.

Circularity Capital backs Bike Club The private equity firm, which invests in small and medium-sized enterprises in the circular economy, has led a £16.75m growth capital round in children’s cycle subscription service Bike Club, to back its plans to expand into Germany and France. Read more.

Parabellum Investments acquires Hervia Luxury fashion retailer Hervia has been acquired by Parabellum Investments, a London-based family office operating as a global private equity company. The deal marks Parabellum's first entry into the luxury goods sector. Read more.

C&C Group sells 47% stake in Admiral Taverns Cider and soft drinks company C&C Group has sold its minority stake in community pub group Admiral Taverns to real estate-focused investment firm Proprium Capital Partners for £55m. C&C had acquired its stake in Admiral for £37m in 2017. Read more.