Ashurst is advising Rothschild in relation to the £112 million takeover of Thorntons PLC by Ferholding UK Ltd, a wholly owned indirect subsidiary of Ferrero International S.A., announced today.

Established by Joseph William Thornton in 1911, Thorntons is an established and historic chocolate brand in the UK. Ferrero is the holding company of the Ferrero Group which is a producer of foodstuffs, active in the manufacturing and sale of confectionery and other sweet products.

Rothschild is acting as financial adviser to Ferrero in relation to the transaction.

The Ashurst team is being led by corporate partner Tom Mercer with corporate associate Harry Thimont.