Freshfields and Travers Smith grab a slice of the action on PE sale of Zizzi and ASK
Freshfields Bruckhaus Deringer and Travers Smith have taken the lead mandates on the sale of restaurant brands Zizzi and ASK Italian by Cinven to rival buyout group Bridgepoint for £250m
December 02, 2014 at 07:36 PM
2 minute read
Freshfields Bruckhaus Deringer and Travers Smith have taken the lead mandates on the sale of restaurant brands Zizzi and ASK Italian by Cinven to rival buyout group Bridgepoint for £250m.
The disposal of the pizza and pasta chains completes the exit of Cinven's investment in casual dining company Gondola Group, which also owned burger restaurant Byron until it was sold last year, and PizzaExpress, before its disposal in July.
Freshfields acted for both Cinven and Gondola Group, fielding a team led by corporate partner Adrian Maguire, with partner Helen Lethaby leading on tax matters.
Maguire also led on the PizzaExpress sale earlier this year, when the brand was acquired by Chinese investment group Hony Capital for £900m, as well on the disposal of Byron in 2013.
Cinven is a long standing client of the magic circle firm, which scored the top role on the private equity house's original takeover of Gondola in 2006.
Travers Smith private equity partner Ian Shawyer led the firm's team acting for Bridgepoint alongside fellow private equity and M&A specialist Edmund Reed.
Finance, restructuring and insolvency partner Jeremy Walsh advised on finance aspects, with Simon Skinner acting on tax issues.
Links between the private equity house and Travers have been strong since Bridgepoint appointed Travers Smith private equity partner Charlie Barter as its first ever general counsel in 2008.
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