One day after Winston-Salem, North Carolina-based Krispy Kreme Doughnuts Inc. announced that it will be taken private by Germany’s JAB Holding Co. for a whopping $1.35 billion in cash, Springfield, Massachusetts-based Friendly’s Ice Cream has found a buyer in Dallas-based Dean Foods Co., which said Tuesday that it will pay $155 million in cash for Friendly’s manufacturing and retail ice cream business.
JAB—controlled by the billionaire Reimann family—has turned to frequent counsel Skadden, Arps, Slate, Meagher & Flom to pair Krispy Kreme’s doughnuts with its substantial coffee investments. M&A partners Sean Doyle and Paul Schnell are leading the team from Skadden, which also includes bank finance and institutional lending partner Steven Messina and IP and technology partner Bruce Goldner.
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