Sammontana Italia Divests Lizzi to Vandemoortele
Deal News | Feb 19, 2025 | Legal Community Italy
Sammontana Italia has entered into a binding agreement with Vandemoortele, a leading Belgium-based food group, for the sale of 100% of the share capital of Lizzi, a Milan-based company specialized in sweet and savory baked goods. Vandemoortele received legal counsel from Baker McKenzie with a team led by Brussels and Milan-based partners, while PwC TLS handled tax due diligence. Sammontana Italia was assisted by BonelliErede for corporate M&A and antitrust aspects. The transaction aligns with directives from AGCM due to Sammontana's recent acquisition of Forno d'Asolo with Investindustrial VIII.
Sectors
- Food and Beverage
- Legal Services
- Accounting and Financial Services
Geography
- Italy – The target company, Lizzi, is based in Milan, Italy, and is a key player in the transaction.
- Belgium – Vandemoortele, the acquiring company, is a Belgium-based food group.
Industry
- Food and Beverage – The acquisition involves companies engaged in the production and distribution of baked goods and food products.
- Legal Services – Legal advisory played a significant role in the transaction, with firms like Baker McKenzie and BonelliErede providing corporate and M&A legal assistance.
- Accounting and Financial Services – PwC TLS's involvement in tax due diligence highlights the role of financial services in the transaction.
Financials
- 100% – The percentage of Lizzi's share capital acquired by Vandemoortele.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Sammontana Italia | Selling Company | Company | Italian food company selling Lizzi to Vandemoortele. |
| Vandemoortele | Bidding Company | Company | Belgium-based food group acquiring Lizzi. |
| Lizzi | Target Company | Company | Milan-based company specialized in sweet and savory baked goods. |
| Baker McKenzie | Legal Advisor | Company | Provided legal counsel to Vandemoortele for the acquisition. |
| PwC TLS | Tax Advisor | Company | Handled tax due diligence for Vandemoortele. |
| BonelliErede | Legal Advisor | Company | Advised Sammontana Italia on corporate M&A and antitrust aspects. |
| Investindustrial VIII | Investment Firm | Company | Associated with the recent acquisition of Forno d'Asolo by Sammontana Italia. |
| AGCM - Autorità Garante della Concorrenza e del Mercato | Regulatory Authority | Government | Issued directives affecting the transaction. |