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Prica & Partners and LMS Advising on Serbian Clearance for Ferrero's Acquisition of Fox's Biscuits

Prica & Partners and LMS Advising on Serbian Clearance for Ferrero's Acquisition of Fox's Biscuits

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Prica & Partners as Serbian counsel and LMS Studio Legale Milano as Italian counsel have reportedly advised on Serbian merger clearance aspects related to Ferrero's acquisition of Fox’s Biscuits. Fieldfisher advised CTH Invest, a Belgian holding group associated with Ferrero Group, on the acquisition.

The seller, the 2 Sisters Food Group, announced the deal on October 7, 2020, and reported a sale price of GBP 246 million. The target, Fox’s Biscuits is a British biscuit manufacturer that was founded in West Yorkshire in 1853 and is known for its chocolate-covered biscuit bars such as Crunch Creams and Party Rings. The 2 Sisters Food Group further informed that "the Ferrero-related company will acquire Fox’s biscuit manufacturing sites at Batley and Kirkham, the sites which primarily produce biscuits sold under the Fox’s brand. 2 Sisters will retain the third site at Uttoxeter which produces own-label biscuits for major retailers."

According to the 2 Sisters Food Group, the formal completion of the sale is expected on 31st October 2020.

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