Law firm White & Case advised Mid Europa Partners on its acquisition of a controlling stake in Danube Foods Group BV and Clates Holding BV.
The value of the transaction, which is subject to customary closing conditions and is expected to be completed during the second quarter of 2015, has not been disclosed. Mid Europa Partners (MEP) is a leading buyout investor focused on the growth markets of Central & Eastern Europe. Danube Foods Group, which achieved revenue of more than EUR400 million during 2014, is the leading branded fast moving consumer goods platform in the former Yugoslavia. It includes the region’s largest independent dairy business as well as the leading confectionery producer, and leading producer of mineral water and other non-alcoholic beverages, in Serbia.
“The complexity and scale of a transaction of this nature in Serbia presented many challenges,” says London-based White & Case partner Ian Bagshaw, who led the team which advised on the acquisition. “We’re very pleased to have been mandated by MEP on the deal and to have helped our client and its co-investors successfully navigate its issues. In playing our part in making the announcement of this acquisition possible, we very clearly showcased the capabilities and regional market knowledge that the Firm’s London buyout team can harness to the benefit of clients.
“On a personal note, the deal represents a landmark for me as I originally worked on the sell side some five-plus years ago before Salford entered administration and it is a pleasure to execute a buy side mandate where I failed to do so on the sell side!”
London-based White & Case partner, Ross Allardice, says: “We’re very pleased to have supported MEP on this acquisition, and the deal is another example of the Firm’s market leading private equity credentials and ability to advise on complex cross-border transactions.”
MEP senior partner Robert Knorr, who leads the firm’s consumer investments, says: “This has been one of our most exciting but also most complex transactions to date. White & Case was perfectly positioned to help us navigate the complexities given its focus on complex buyouts and its market leading practice in the region.”
