Ashurst advised SEB AG, NIBC Bank N.V. and Bank of Ireland on the financing of the acquisition of bakery chain Dahlewitzer Landbäckerei GmbH (Dahlback) by financial investor Deutsche Beteiligungs AG (DBAG) and one of its funds. The parties have agreed not to disclose financing volume and purchase price. The vendors are private equity firm Steadfast Capital and Volker Schülke, Dahlback's managing partner. Schülke will re-invest in the company and remain in his current role. The transaction is conditional on approval by the cartel authorities.

Dahlback was recently formed through the merger of various bakery chains. With 357 outlets operating under the names "Unser Heimatbäcker" and "Lila Bäcker", a staff of 2,300 and annual revenues of €99 million (1 November 2013 to 31 October 2014), Dahlback is the largest bakery chain in north-eastern Germany and the fifth largest in Germany.

The Ashurst team was led by partner Dr Bernd Egbers. He was assisted by counsel Christiane Kneip, associate Isabell Pöller and transaction manager Susanne Kasnitz (all banking, Munich). Partner Heiko Penndorf, supported by associate Felix Krüger, advised on tax aspects (both Frankfurt). Corporate partner Lars Jessen from Munich also advised.