Baker McKenzie advised leading Spanish manufacturing company Viscofan on the acquisition of the casing collagen division from the Japanese Group Nitta Gelatin Inc., a public company listed in the  Tokyo Stock Market specialized in the production and distribution of collagen products for the pharmaceutical, food and industrial sectors. The transaction includes the cash acquisition of 100% of Nitta Casings Inc. in the United States and 100% of Nitta Casings (Canada) Inc. in Canada for an enterprise value of US$ 13.5 million and an additional US$ 1.5 million if EBITDA for 2020 reaches US$ 1.8 million. Viscofan has paid US$ 2.8 million in cash and incorporated US$ 10.7 million as financial debt and pensions. 

Viscofan is a global leader in the manufacturing, production and distribution of casing for the meat industry. 

According to Viscofan chairman, José Domingo de Ampuero “Nitta Casings’ acquisition is a landmark for Viscofan. Such transaction will enable us to fulfill our production capabilities in North America with collagen casings by adding manufacturing centers in the United States and Canada. This move fits our MORE TO BE strategy aimed at reinforcing our commitment to the development of the global market in all casing technologies. To welcome Nitta Casings’ human team is a new push for this commitment thanks to better time to market and technology diversification to improve customer service, not just in the region, but also worldwide.”

Baker McKenzie’s cross-border deal team from North America was led by partner José Moran and included partner Lewis Popoff as well as associate Carlos Suarez.  The Baker team also included environmental, IP, tax, real estate and employment lawyers based in the US, Toronto and Tokyo.

Baker McKenzie is one of the leading firms for cross-border transactions, providing strategic advice on deals involving the world’s leading financial institutions and multinational companies. From deal inception to business integration, we help clients bridge the gap between aspiration and achievement. The Firm leads and closes three deals a day with expertise spanning banking and finance, capital markets, corporate finance, funds, M&A, private equity and projects. The combination of deep sector expertise, and our ability to work seamlessly across each of the countries where we operate, means we add unique value in shaping, negotiating and closing the deal.

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