Wragge & Co's Corporate team has advised United Biscuits on its acquisition of a majority interest in a Nigerian biscuit producer for an undisclosed sum.
The deal is a strategic investment for the biscuit, snack and confectionery manufacturer and its second overseas investment in six months. United Biscuits which owns among others the McVitie's, Jacob's and Go-Ahead brands, is well established in Africa having had a presence in Nigeria for several decades.
Purchasing a stake in A & P Foods, a leading biscuit producer in Nigeria, will enable United Biscuits to increase its operational capacity and expansion plans into the African market.
The deal is the firm's first major corporate instruction from United Biscuits which is a longstanding client of Wragge & Co.
Stuart Young, corporate partner at Wragge & Co, advised United Biscuits on the deal. He said: "The team's food sector specialists, their cross-border deal expertise and legal knowledge of local jurisdictions were crucial to the success of this transaction.
"Africa offers huge growth potential for United Biscuits and this acquisition will assist in their ambitions to achieve this."
Working with Stuart Young on the deal were corporate associate Victoria Hirst, Alexi Markham, associate in the Commercial, IT and Outsourcing team, director Dan Smith and solicitor Salmah Ebrahim in the Intellectual Property team. Associate Paul Harrington advised on the tax issues.
Simon Rose, Head of Corporate Legal Affairs for United Biscuits, said: "A&P Foods is a great addition to our African operations. The market has huge potential for UB, being the most populous country in the Continent, with 160 million people. I was delighted to be able to work with Wragge & Co on this project. The team provided an excellent service throughout, working seamlessly with our Nigerian lawyers and helping to overcome the many challenges of what was a complex transaction."
Other advisers include Conyers Dill & Pearman and Elvira Salleras & Associates. DLA Piper UK LLP advised the vendors.
Wragge & Co's 15-partner Corporate, Banking and Finance practice delivers expert legal advice and commercial solutions on all corporate, private equity and leveraged transactions. A full-service team, the firm's Food and Drinks group provides commercial, corporate, IP and real estate advice to a global client list which includes Birds Eye Iglo Foods, Coca Cola, McDonalds, My Goodness Shakes, Premier Foods, Tyrrels Crisps and Unilever.
Wragge & Co is an associate member of the Food & Drink Federation (FDF) and other industry forums/trade groups including British Brands Group and the British Retail Consortium.