Latham & Watkins advises Ardian and Frulact on €210 million financing

The financing has been made by way of a syndicated TLB and a revolving facility, arranged by a pool of banks (including ING Bank N.V. Sucursal en España, SMBC Bank International PLC and The Governor and Company of The Bank of Ireland). The transaction closed on 27 September 2021. The proceeds of the financing were used to refinance the existing financial indebtedness of the Frulact group and to finance the acquisition of businesses from Frutarom group located in France, Germany, and Switzerland.

Frulact group is a leading producer of added valued ingredients for the food industry, with a strong presence in Portugal, but also present in other countries such as Morocco, France, South Africa, Canada, and the US.

Latham advised Ardian and Frulact in the financing with a Paris finance team led by partner Xavier Farde, and counsel Carla-Sophie Imperadeiro, with Olivier Stefanelli, Florana Benabid, and Camille Bulle.