Tokyo, Japan, 1 March 2019 – Baker McKenzie acts as the exclusive legal counsel to Yildiz Holding and GODIVA Chocolatier (“GODIVA”) on the sale of its retail and distribution operations in four markets: Japan, South Korea, Australia and New Zealand. The transaction also includes the sale of the GODIVA production facility in Brussels.
The transaction is anticipated to close in mid-2019, subject to the customary closing conditions of completion of standard Belgium employee works council consultations and expiry of the relevant competition authority waiting period.
The Firm’s team* is led by Jeremy White, a partner in the Corporate/M&A Practice Group in Tokyo. He was ably supported by Kensaku Takase, Byron Frost, Daniel Burkhart, Beelian Tay, Ayako Nakano, Masao Katsuyama, Mami Ohara, Daniel Relton (Tokyo office); Dominique Maes, Francois Gabriel, Jean-Francois Vandenberghe (Brussels office); David Scott, Jannan Crozier (London office); Jur Strobos (FDA specialist Washington DC office); Tracy Wut (Hong Kong office). The team has lead responsibility in advising the clients on the sale structure, legal and regulatory issues, communication with the regulators, and general transaction management.
“We are very pleased that we have been able to draw on our legal capabilities and strengths in advising on M&A and carve outs in order to assist our clients on this landmark deal. Because we are a full service firm, we were also able to advise on all relevant ancillary pieces such as employment, intellectual property, antitrust, environment, and real estate laws.” said Jeremy White. “This transaction will add further impetus to the future growth of our client’s business, and we look forward to continue supporting their legal needs.”
GODIVA Chocolatier is the global leader in premium, artisanal chocolate. Yildiz Holding is the largest food manufacturer in Turkey and the Middle East.
[* This is the second headline transaction in the confectionary market on which the Firm has advised within the last six months. A Tokyo team led by Jeremy White also assisted on Fuji Oil’s USD 750 million acquisition of Blommer Chocolate Company.]