Ardian portfolio company Frulact acquires business unit from IFF

Munich — Inter­na­tio­nal law firm Clif­ford Chance has advi­sed Frulact Servi­ços Partil­ha­dos SA, a port­fo­lio company of private equity inves­tor Ardian, on the acqui­si­tion of the food prepa­ra­tion busi­ness of Inter­na­tio­nal Flavors & Fragran­ces Inc (IFF).

The master asset purchase agree­ment was concluded in April 2021. The tran­sac­tion is subject to anti­trust clearance and is expec­ted to be comple­ted in the third quar­ter of 2021.

Frulact is a leading company for the produc­tion of ingre­di­ents for the food and beverage indus­try. The company specia­li­zes in fruit proces­sing and is head­quar­te­red in Maia, Portu­gal. French private equity inves­tor Ardian had acqui­red a majo­rity stake in Frulact in 2020.

IFF is a leading manu­fac­tu­rer of flavors, extra­cts and fragran­ces for consu­mer products based in New York, USA. IFF’s food prepa­ra­tion busi­ness includes the deve­lo­p­ment, produc­tion and distri­bu­tion of fruit and vege­ta­ble prepa­ra­tion products for the food, beverage and pet food indus­tries. As part of the tran­sac­tion, Frulact will acquire the produc­tion sites in Emme­rich (Germany) and Rein­ach (Switz­er­land), a site in Dijon (France) and assets and employees in other Euro­pean countries.

The Clif­ford Chance team advi­sing Frulact was led by part­ner Frede­rik Mühl (Corporate/Private Equity, Frankfurt).

About Clif­ford Chance
Clif­ford Chance, one of the world’s leading law firms, is present for its clients with around 3,400 legal advi­sors in all major busi­ness centers around the world. — In Germany, Clif­ford Chance is repre­sen­ted by around 300 lawy­ers, audi­tors, tax advi­sors and soli­ci­tors in Düssel­dorf, Frank­furt am Main and Munich.