Kambourov & Partners serves as the local partner of DLA Piper and advises on the sale of DANONE’s local production capacities to the American company Schreiber Foods.
Products of the French group in Bulgaria, as well as in Portugal and the Czech Republic, will soon be sold by the American company. For Bulgaria, in particular, this is one of the outstanding transactions during the past couple of years, where the purchasing company is not a local player, but a foreign investor. The deal does not involve the sale of the Bulgarian unit of the French dairy producer DANONE - DANONE Serdika, but only a transfer of ownership over its production capacities to Schreiber Foods, which is looking to expand its European presence.
DANONE is the largest dairy manufacturing company in Bulgaria, while Schreiber Foods is specialized in the production of private labels for various retail chains. The food and beverage industry is already quite familiar with the model where production capacities and labels pertain to two separate owners. The deal is also in line with DANONE’s strategy aimed at ensuring sustained growth and better competitiveness through the optimization of capacities and expenses.
Though the value of the transaction is confidential, according to various media sources, all properties, machinery and industrial facilities, owned by DANONE, that are to be acquire by Schreiber, are estimated at BGN 16.1 m.
The M&A and Real Estate teams of Kambourov & Partners assist DLA Piper throughout the deal by drafting, consulting on and negotiating the relevant transaction documents, and are currently working on the steps required for the successful completion of the transaction.