Latham and Jones Day lead on Carlyle's £1.8bn sale of Holland & Barrett to Russian billionaire
US duo advise alongside DLA Piper on high-profile retail acquisition
June 26, 2017 at 05:43 AM
2 minute read
Latham & Watkins and Jones Day have taken the lead roles on the Carlyle Group's £1.8bn sale of UK health food retailer Holland & Barrett.
Carlyle is selling the well known high street brand to L1 Retail, which is part of Russian billionaire Mikhail Fridman's LetterOne investment business.
The private equity giant took ownership of Holland & Barrett in 2010 as part of its $4bn acquisition of parent company NBTY, now known as The Nature's Bounty Co.
Latham is advising Carlyle, while L1 Retail is being advised by fellow US firm Jones Day. DLA Piper advised Holland & Barret's management with a team led by European private equity head Tim Wright and private equity partner Edward Griffiths.
Latham is fielding a London team led by corporate partner Mike Bond, alongside London finance chair Sam Hamilton, global benefits, compensation and employment co-chair Stephen Brown, employment and pensions partner Catherine Drinnan, tax partner Sean Finn and intellectual property partner Deborah Kirk.
Carlyle is one of Latham's key clients, and the firm has moved to bolster this relationship with a number of key hires in recent years. In 2014, Carlyle's chief compliance officer for Europe and Africa, Tom Alabaster, joined Latham as a partner in London, while in 2013, the US firm recruited Clifford Chance private equity chief and key Carlyle relationship partner David Walker.
This year, Latham has advised Carlyle on its €400m (£351m) acquisition of Italian fashion brand Golden Goose Deluxe Brand, as well as its $400m (£314m) investment in ION Investment Group, a global provider of mission-critical software to financial institutions and corporates.
Holland & Barrett has more 1,300 stores in 16 countries. The transaction is expected to close in September this year.
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