October 22, 2021
Platinum Equity portfolio company, Biscuit International, one of the leading European manufacturers of private label biscuits, has reached an agreement to acquire Continental Bakeries from its majority shareholders, Goldman Sachs Asset Management.
Continental Bakeries is a leading European manufacturer of private label sweet biscuits, bread replacements and toast. Its manufacturing operations consist of 13 production facilities in Netherlands, Belgium, Germany, Poland and Sweden. Completion of the transaction is anticipated during the first half of 2022, subject to customary antitrust and works council approvals.
Latham & Watkins represents Platinum Equity in the transaction with a team led by London corporate partner Tom Evans and Hamburg partner Nils Roever, with Paris associates Simon Lange and Adrien Levallois and Hamburg associates Daniel Kreutzmann and Maximilian Berenbrok. Advice was also provided on finance matters by London partner Dominic Newcomb, with associates John Hutton and Andrew Paisley; on ESG matters by London partner Paul Davies, with counsel Michael Green; on anti-trust matters by Brussels partner Sven Völcker, with associates Anthemis Economou and Apostolos Papadimitriou; on tax matters by London partner Karl Mah and New York partner Matthew Dewitz, with counsel James Leslie and associate Edward Moberly; on employment matters by Munich partner Tobias Leder, with associate Christian Strauss; and on corporate and commercial matters by Hamburg associates Lorenz Koffka, Jana Maué, and Edward Martin.
Further assistance was provided by local counsel Houthoff in the Netherlands, Liedekerke in Belgium, DZP in Poland, and Vinge in Sweden.