Baker McKenzie Cairo has acted as lead counsel to the European Bank for Reconstruction and Development (EBRD) on its investment in Breadfast, the Egyptian online grocery delivery platform, as part of its Series B2 funding round.
This investment, made alongside Novastar Ventures, is set to support Breadfast’s expansion plans, including the addition of fulfilment centres in major Egyptian cities, laying the groundwork for operations in new markets, enhancing its technology infrastructure, and expanding its private-label product offerings to boost margins.
The transaction was relatively complex, involving deal structuring, multi-jurisdictional due diligence, regulatory advice, and the drafting and negotiation of transaction documents.
Commenting on the transaction, Partner Hani Nassef said: “We are proud to have supported EBRD on this strategic investment in Breadfast. The transaction reflects our ability to navigate complex cross-border equity investments and deliver tailored legal solutions that align with our clients’ commercial objectives. It also highlights our commitment to supporting innovation and growth in Egypt’s tech-driven consumer sectors.”
The Baker McKenzie team was led by Hani Nassef, Partner and Head of M&A at Baker McKenzie Cairo, with assistance from Senior Associate Ingy Elkady, and Associate Hala Mohamed. Additionally, Baker McKenzie’s offices in San Francisco, London, and Los Angeles have provided additional support; including Emery D Mitchell (Partner, San Francisco), Tom Quincey (Partner, London), Nick Neuteufel (Associate, Los Angeles), Abigail Saffron (Associate, London) and Kartik Singh (Associate, London). Meanwhile, Orrick, Herrington & Sutcliffe acted as legal counsel to Breadfast Inc.
This investment, made alongside Novastar Ventures, is set to support Breadfast’s expansion plans, including the addition of fulfilment centres in major Egyptian cities, laying the groundwork for operations in new markets, enhancing its technology infrastructure, and expanding its private-label product offerings to boost margins.
The transaction was relatively complex, involving deal structuring, multi-jurisdictional due diligence, regulatory advice, and the drafting and negotiation of transaction documents.
Commenting on the transaction, Partner Hani Nassef said: “We are proud to have supported EBRD on this strategic investment in Breadfast. The transaction reflects our ability to navigate complex cross-border equity investments and deliver tailored legal solutions that align with our clients’ commercial objectives. It also highlights our commitment to supporting innovation and growth in Egypt’s tech-driven consumer sectors.”
The Baker McKenzie team was led by Hani Nassef, Partner and Head of M&A at Baker McKenzie Cairo, with assistance from Senior Associate Ingy Elkady, and Associate Hala Mohamed. Additionally, Baker McKenzie’s offices in San Francisco, London, and Los Angeles have provided additional support; including Emery D Mitchell (Partner, San Francisco), Tom Quincey (Partner, London), Nick Neuteufel (Associate, Los Angeles), Abigail Saffron (Associate, London) and Kartik Singh (Associate, London). Meanwhile, Orrick, Herrington & Sutcliffe acted as legal counsel to Breadfast Inc.
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