Friesland Campina advised by Allen & Overy on sale of parts of its German consumer business to Unternehmensgruppe Theo Müller
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Under the agreement reached by the two companies, Friesland Campina will sell the following business activities to Unternehmensgruppe Theo Müller: the brands Landliebe, Tuffi, Südmilch, Puddis, Mondelice, various private labels in the white dairy range produced by Friesland Campina in Germany, the foodservice brand Gastro, as well as the production facilities, warehouses and distribution centres in Heilbronn, Cologne, and Schefflenz.
Moving forward, Friesland Campina will focus on growing its international brands like Chocomel and Valess, its Professional business, and some private label brands produced abroad in Germany, as the company explained in an announcement.
The transaction is subject to customary closing conditions, including approval by the Members’ Council of Zuivelcoöperatie FrieslandCampina U.A. and the German competition authorities. The Member Council will decide on the proposed transaction on 20 June 2022. It is anticipated that the transaction will be completed before the end of 2022. No statements have been made regarding the financial aspects of the transaction.
The Allen & Overy team was led by partner Dr Nicolaus Ascherfeld and counsel Marie-Luise von Buchwaldt with support from associate Dr Naemi Czempiel (all Corporate/M&A, Hamburg). Furthermore, advise was given by partners Markulf Behrendt (Employment & Benefits), Dr Christian Hilmes (Real Estate, both Hamburg), Dr Heike Weber (Tax), Peter Wehner (Pensions), Dr Udo Olgemöller (Public Law, all Frankfurt) und Dr Jens Matthes (IP, Dusseldorf), as well as counsels Dr Sebastian Remberg (Corporate/M&A), Dr René Galle (Antitrust) and Dr Daniel Bolm (Real Estate, all Hamburg). In addition, the team comprised senior associates Stefanie Guenther (Food Law/Environmental Law, Frankfurt) and Anna Kraeling (IP, Dusseldorf), as well as associates Kornelius Lotha (Corporate/M&A), Merle Herrmann (Employment & Benefits), and senior transaction coordinator Oliver Ahnseel (all Hamburg).
Inhouse counsel on the transaction was provided to Friesland Campina by Thomas Kollée.