1) Unpack the AcrobatPro_11_Web_WWMUI.exe via 7zip or by dubbelclicking it and choosing an folder in the UI (My foldername was "Unpacked")

2) msiexec /a c:\temp\Unpacked\AcrobatPro_11_Web_WWMUI\Adobe Acrobat XI\AcroPro.msi and choose the TARGETDIR via the UI or ad it as an extra msiexec argument (TARGETDIR=c:\temp\AdminInstall)

3) Download the patches from http://www.adobe.com/support/downloads/product.jsp?product=1&platform=Windows (currently 11.0.03 http://www.adobe.com/support/downloads/detail.jsp?ftpID=5593)

4) msiexec /a c:\temp\AdminInstall\AcroPro.msi /p AcrobatUpd11xxx.msp (currently AcrobatUpd11003.msp)

5) Download and Install CustWiz11xxx_en_US.exe from http://www.adobe.com/support/downloads/detail.jsp?ftpID=5515 (currently CustWiz11003_en_US.exe)

6) After installation start the Adobe Customization Wizard XI  ("C:\Program Files (x86)\Adobe\Adobe Customization Wizard 11\CustWiz.exe")

7) Insert the License key in the "Personalization Options" page and set additional option in the "Online Services and Features" page

8) Create a empty Setup.ini file with notepad in the AdminInstall directory (c:\temp\AdminInstall)

9) Close "Adobe Customization Wizard XI", a file named AcroPro.mst will now be created