Baker & McKenzie.Wong & Leow Advises EQT Private Equity Group on Acquisition of Classic Fine Foods Group
Deal Announcement
15 February 2011
Singapore, 15 February 2011 – Baker & McKenzie announced the completion of a private equity acquisition by its Singaporean member firm, Baker & McKenzie.Wong & Leow. The transaction involved the acquisition by EQT Greater China II (“EQT Greater China”) of Classic Fine Foods Group (“CFF”) from UK-based Vestey Group Ltd. EQT Greater China now owns 96% of CFF with the remaining 4% under management ownership. With 2010 revenue expected to top EUR 94 million, CFF is a leading multinational importer and distributor of fine foods. It serves the majority of five-star hotels and premium restaurants across Asia with operations in 11 markets, including Singapore, Hong Kong, Japan, Malaysia, the Philippines, Vietnam, the UAE and the UK.
Partner Andrew Martin, who led the team, said “Pulling a multi-jurisdictional deal together in a short time frame is always a challenge. Fortunately, at Baker & McKenzie, the availability of colleagues 24/7 based on relationships built up over many years of practice together helps us rise to this and deliver against the deadlines facing our clients.”
The transaction demonstrates the Firm’s ability to cover multiple jurisdictions and practice areas issues in a seamless manner. Besides Singapore, the transaction involved the Firm’s offices in Brazil, France, Hong Kong, Indonesia, Japan, Malaysia, the Netherlands, the Philippines, Taiwan, Thailand, the UAE, the UK and Vietnam as well as correspondents in Macau.
Simon Griffiths, Senior Partner, EQT Partners Singapore said, “It was a pleasure working with the Baker & McKenzie.Wong & Leow team based in Singapore. With all the late nights and weekends, the team maintained a great sense of humour and were able to get the deal signed and closed in very short order.”
Partner Ai Ai Wong who heads up Asian Private Equity group for Baker & McKenzie in the region said “Following-up on previous matters for EQT in Asia Pacific and Europe, this Singapore-led deal represents a further extension of the Firm’s relationship with one of the private equity industry’s leading players and helps to confirm our reputation in this space.”
Jennifer Chih of PK Wong & Associates LLC advised Vestey Holdings on the sell side while Baker & McKenzie.Wong & Leow advised EQT on the buy side and on EQT’s arrangements with the management.