CMS advises on the sale of Delicpol

CMS has advised Resource Partners, a private equity fund, in relation to the sale of Delicpol, a manufacturer of cookies sold under private labels. The purchaser is Continental Bakeries, a manufacturer of sweets owned by Goldman Sachs Merchant Banking Division and Silverfern, a private equity fund. The closing of the transaction took place in October 2017.

“The food sector has been undergoing consolidation and we may expect further ownership changes in the near future. A similar trend can be seen throughout Europe, where this sector is considered to be one of the most active for M&A,” says Marek Sawicki, partner managing the CMS M&A team. 

The CMS team involved in the sale of Delicpol was made up of Marek Sawicki, legal counsel and partner managing the Corporate/M&A Department, and Izabela Gębal, legal counsel and senior associate.

This was the fourth recent transaction on the foodstuffs market in which CMS has assisted. The law firm advised the shareholders of Polska Dystrybucja Alkoholi in relation to the sale of 100% of the company’s shares to Grupa Eurocash, and the sale of Jantoń S.A. Sp.k. to Polish Enterprise Fund VII, a private equity fund managed by Enterprise Investors. CMS also advised selected partners (founders) of Mila SA on the conditions of cooperation between the partners, the terms and conditions of the sale agreement as well as matters related to real estate. CMS also worked for Mid Europa Partners in connection with the sale of Żabka Polska – the largest transaction in the retail grocery segment in Poland, which at the same time was the largest exit of a private equity fund from its investment in Poland.