DLA Piper has advised 2 Sisters Food Group on its £30 million agreement to acquire the Brookes Avana businesses from Premier Foods.
The agreement, which was announced on December 8, will be made on a cash and debt free basis.
It includes the purchase of the three Brookes Avana sites at Newport (RF Brookes and Avana Bakeries) and Leicester (RF Brookes).
The deal was led by Noel Haywood, corporate partner in DLA Piper’s Birmingham office, along with Nigel Cooke, associate, and Jonathan Crowley, solicitor.
“2 Sisters is now a major diversified UK and European food company which provides food for every eating occasion,” said Mr Haywood. “During one of the most challenging economic periods in memory, 2 Sisters has continued to grow organically and by making strategic acquisitions.
“We are delighted to have worked with the 2 Sisters team on this transaction.”
Saeeda Amin, head of corporate finance for 2 Sisters Group said: “The acquisition of Brookes Avana is an excellent strategic fit for 2 Sisters. Following completion, we will focus on delivering future growth opportunities and enhancing the performance of the business.
“DLA provided strong support to 2 Sisters in what was a short timescale to complete this acquisition. They were reliable, experts in their field and helped us to deliver the deal which will help us to continue growing our business.”