Eversheds has advised the Raisio group on the EUR 88.4 million acquisition of the Benecol business in the UK, Ireland and Belgium from the Johnson & Johnson group.

In the UK and Ireland, Benecol is the market leader in cholesterol-lowering functional foods. The acquisition is estimated to increase Raisio’s EBIT by some 9 million euros annually.

The Johnson & Johnson group, via subsidiary Cilag GmbH International has had the exclusive right to sell and market Benecol products in the UK, Ireland and Belgium. With the acquisition, rights to the Benecol trademark and plant stanol ester patents held by Cilag GmbH International will return to Raisio. The US business is included in the deal, but Johnson & Johnson group subsidiary, McNEIL-PPC, Inc., will continue as Raisio’s licensee for the time being. The amended agreement allows for the return of the Benecol rights and transfer of certain US assets to Raisio or its possible new licensee at a later date.

For the first time since 1997, Raisio will have all the rights to the Benecol brand and plant stanol ester, the Benecol product ingredient, allowing it to develop the business globally on a new basis.

The Eversheds team was led by partner Robin Skelton, assisted by Senior Associate David Milne and Associate Sophia Leavett.

Robin commented:

“Eversheds has market leading food & drink and consumer sector teams, acting for some of the industry’s largest businesses. Advising Raisio on this highly strategic acquisition is exactly within the sweet spot of Eversheds’ offering to our clients.”