King & Wood Mallesons SJ Berwin advised Qualium Investissement on the sale of its majority stake in DGF group to 21 Centrale Partners. The firm also advised Capzanine on the related mezzanine financing.

21 Centrale Partners will become DGF’s majority shareholder alongside the management led by CEO Bruno Rouxel, after purchasing the stake of Qualium Investissement and other minority shareholders who have owned the group since 2008. The closing of this operation is subject to the approval of the Competition Authority.

Headquartered in Chanteloup-les-Vignes (Yvelines, France), DGF is the second-largest distributor of raw materials and ingredients to the bakery, pastry and catering industries in France. The group employs around 1000 people and generated an annual turnover of €170 million in 2013.

The King & Wood Mallesons SJ Berwin team in charge of the sale was composed of Corporate partners William Robert and Pierre-Louis Périn with associate Benjamin Garcon.

The King & Wood Mallesons SJ Berwin team in charge of the mezzanine financing was composed of Finance partner Olivier Vermeulen and associates Marc Zerah and Tereza Courmont, of Tax partner Raphael Bera and Counsel Gwenael Kropfinger, as well as Corporate partner Thomas Maitrejean and associate Lionel Cazajus.

The firm regularly advises Qualium Investissement, including on the first LBO of DGF in 2008.