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White & Case, Karanovic & Nikolic, Jones Day, and JPM Advise on Mid Europa Partners Acquisition of Danube Foods Group


White & Case and Karanovic & Nikolic have advised Mid Europa Partners on its acquisition of a controlling stake in the Danube Foods Group B.V. and Clates Holding B.V. The value of the transaction, which is subject to customary closing conditions and is expected to be completed during the second quarter of 2015, was not disclosed. Jones Day advised Danube Foods Group, and JPM advised the warrantors during the transaction, “including negotiations on representations and warranties and disclosure exercise.”

Mid Europa Partners is a leading buyout investor focused on the growth markets of Central & Eastern Europe. The Danube Foods Group, which achieved revenue of more than EUR 400 million in 2014, is a leading branded fast moving consumer goods platform in the former Yugoslavia. It includes the region’s largest independent dairy business as well as a leading confectionery producer and a 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," said London-based White & Case Partner Ian Bagshaw, who led the team advising 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,” he said, and noted that “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!"

Mid-Europa Partners' Senior Partner Robert Knorr, who leads the firm’s consumer investments, said: "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."

White & Case previously advised a consortium of investors, 75 percent controlled by funds managed or advised by Mid Europa Partners, on the EUR 828 million sale of its stake in T-Mobile Czech Republic to Deutsche Telekom

The White & Case team in London included Partners Bagshaw, Ross Allardice, and Martin Forbes, with support from Associates Mark Evans, Tom Leslie, Will Summers, and Amita Patel and Trainee Lawyers Oliver Arnott, Ali Auda, Gabe Tan and Charlie Mercer. Karanovic & Nikolic Partner Rastko Petakovic acted as the lead legal counsel for Serbia, Bosnia & Herzegovina, Montenegro, and Macedonia.

Image source: unisign.rs