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Transactions
JULY 2013
notEnStEIn PRIVAtE BAnK
Ltd ACQUIRES StAKE In EFG FInAnCIAL
EFG Financial Products Holding AG (SIX:FPHn), the zurich-based integrated structured investment services provider, has taken note that the recently announced acquisition of 20.25 % of its shares by notenstein Private Bank, previously held by EFG International, has been completed.
On March 12, 2013, the contracting parties announced that Notenstein Private Bank would acquire EFG International’s 20.25 % stake in EFG Financial Products at a price of CHF 70.2 million or CHF 52 per share. Having received all of the regulatory approvals, the transaction has now been completed. Together with its existing stake of 2.5 %, Notenstein Private Bank holds 22.75 % of shares in EFG Financial Products and is the largest single shareholder of the company. The four founding partners of EFG Financial Products together hold a stake of 25.30 %.
Froriep Renggli has advised both Notenstein Private Bank Ltd and Raiffeisen Switzerland Cooperative as transaction counsel on all Swiss law and regulatory aspects of the transaction. The Froriep Renggli team was led by partner Dr Beat M. Barthold (M&A, Corporate and Commercial) and comprised partners Dr Ansgar Schott (Financial Markets) and Boris Wenger (Competition) as well as associates Pascal Richard, Philippe Stuber, Tervel Stoyanov (M&A, Corporate and Commercial) and Benjamin Dürig and Dr Mark Montanari (Financial Markets). LM
HAIn CELEStIAL GRoUP ACQUIRES ELLA'S KItCHEn
the Hain Celestial Group, Inc. (nASdAQ: HAIn), a leading natural and organic products company providing consumers with A Healthier Way of Life™, has acquired of Ella's Kitchen Group Limited and the formation of the Global Infant, toddler & Kids division under Hain Celestial US. Ella's Kitchen is a manufacturer and distributor of premium organic baby food under the Ella's Kitchen® brand and the first company to offer baby food in convenient flexible pouches.
Ella's Kitchen generated approximately $70 million in sales in calendar year 2012 and is expected to be accretive to Hain Celestial's earnings in fiscal year 2014 by $0.05 to $0.08 per diluted share.
Paul Lindley, founder of Ella's Kitchen, will become Chief Executive Officer of the new Global Infant, Toddler & Kids Division at Hain Celestial US, with responsibility for Hain Celestial's Earth's Best® brand as well as the newly acquired Ella's Kitchen® brand. Paul will report to John Carroll, Executive Vice President and Chief Executive Officer, Hain Celestial US.
Davenport Lyons acted for Ella’s Kitchen on this transaction. The team was led by Paul Toolan and included lawyers advising on commercial, intellectual property, banking, employment and tax.
Davenport Lyons has acted for Ella’s Kitchen since 2008, shortly after it was founded by Paul Lindley.
Other advisers included Stamford Partners LLP (corporate finance) for Ella’s Kitchen and UBS (corporate finance) and DLA Piper (legal) for Hain Celestial.” LM
Ella’s Kitchen
EFG Financial