CMS is advising Finsbury Food Group plc, the AIM traded bakery group, on its £56 million cash free / debt free acquisition of the Fletchers Bakeries group from Vision Capital and Fletchers’ management. The transaction, which is a reverse takeover under the AIM Rule, is being funded by new debt facilities and a £35 million institutional share placing by Finsbury. The deal is subject to shareholder approval and is expected to close on 30 October 2014.

The CMS team was led by Corporate partner James Parkes with assistance from senior associate Henry Wood and included corporate associates Maciej Pietrzak and Alice Naylor.