Shifting the focus to well-being
10 January 2018
Eversheds Sutherland advises Raisio on divestment of its confectionery business
Eversheds Sutherland has advised Raisio plc (Raisio) on the divestment of its confectionery business to Valeo Foods Ltd (Valeo Foods) at an enterprise value of EUR 100 million.
Raisio’s divested confectionery business includes six production plants in the UK and Czech Republic. Its best-known brands include Fox’s Glacier, Just, XXX, Poppets and Pedro. The divestment will allow Raisio to focus on brands that enhance well-being.
The Eversheds Sutherland corporate team, led by Partner Chris Halliday and Principal Associate David Milne, with assistance from Associate Russell Naglis, advised on all aspects of deal and delivered it to a demanding timescale.
David Milne commented:
“As part of our global legal practice, we have a dedicated international consumer sector that regularly advises some of the world’s leading food and beverage businesses within this competitive arena. We are extremely pleased to have advised Raisio on this divestment which will enable it to strengthen and expand its core business in the healthy foods market.”
Sari Koivulehto-Mäkitalo, Vice President of Legal Affairs, Raisio, commented:
“The support we received from the Eversheds Sutherland team was intrinsic to the success of this deal, and ensured a smooth and efficient process throughout. We have worked with Eversheds Sutherland for a number of years, and are always impressed by the quality of the technical advice they provide and the team’s incredible commitment to securing the best result for us.”
In January-September 2017, net sales for Raisio’s confectionery business totalled EUR 71.3 million and EBIT was EUR 6.4 million.