Latham & Watkins Advises NPM Capital on Acquisition of Majority Stake in Elbfrost

Latham & Watkins LLP has advised NPM Capital, a leading investment firm headquartered in Amsterdam with offices in Ghent and Munich, on its agreement to acquire a majority stake in Elbfrost, a prominent food distributor and logistics service provider based in Marl, Germany. This strategic partnership aims to accelerate Elbfrost’s organic growth while leveraging NPM Capital’s expertise in strategic acquisitions, marking NPM Capital’s first platform investment in the DACH region. Completion of the transaction is expected in the third quarter of 2025, subject to customary regulatory approvals.

The Latham team was led by Munich private equity partner Burc Hesse, with Munich partner Stephan Hufnagel and Frankfurt partner Susanne Decker, and associates Chris Freitag, Corinna Freudenmacher, Manuel Schmutzler, and Julian Glaub. Advice was also provided on tax matters by Hamburg partner Verena Seevers; on antitrust matters by Hamburg partner Jana Dammann de Chapto, with counsel Nils Bremer, and associate Judith Jacop; on employment matters by associate Martina Hölzer; and on regulatory matters by counsel Joachim Grittmann.