Slaughters, BCLP and Sullivan among breadwinners on $1bn sandwich deal
Ropes and Arthur Cox also among spread of law firms on Greencore's US exit
October 16, 2018 at 05:58 AM
2 minute read
A feast of firms including Slaughter and May, Sullivan & Cromwell and Ropes & Gray have advised one of the world's largest sandwich manufacturers on the $1bn (£817m) sale of its US business.
Ireland-based FTSE 250 company Greencore is backing out of the US market just two years after it bought US food manufacturer Peacock for $747.5m (£567m), with its Stateside operations sold to Illinois-based rival Hearthside Food Solutions.
Greencore is being advised by Slaughters on English matters, with Sullivan & Cromwell and Bryan Cave Leighton Paisner (BCLP) handling US aspects, and Arthur Cox on Irish matters.
Corporate partners Richard Smith and Victoria MacDuff are leading the Slaughters team alongside pensions partner Dan Schaffer, while BCLP corporate partner Stephanie Hosler is leading for the transatlantic firm from her base in St Louis.
The Arthur Cox team includes managing partner Brian O'Gorman, corporate/M&A partners Stephen Ranalow and Cian McCourt, corporate and commercial partner Colin Kavanagh and finance partner Grainne Hennessy.
Ashurst, meanwhile, is advising the deal's sponsor, Greenhill & Co International, with a team led by corporate partner Nick Williamson.
US firm Ropes & Gray is advising Hearthside, with a team of private equity partners led out of the firm's New York office by private equity partners Bob Rivollier and David Blittner. London-based partner and global co-chair of private equity Phil Sanderson also advised on UK matters.
The deal comes after Travers Smith and Freshfields Bruckhaus Deringer recently advised on the sale of sandwich chain Pret a Manger to German investment group JAB Holdings for a reported £1.5bn, while also in the food sector, Norton Rose Fulbright and Addleshaw Goddard led on the sale of frozen food specialists Aunt Bessie's to US-listed company Nomad Foods for about £210m.
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