Cleary advises Bimbo on $630m East Balt acquisition
Cleary Gottlieb acted for Mexican multinational Bimbo on its acquisition of East Balt Bakeries, a Chicago-based company which produces and supplies baked goods in the US, Europe, Asia, the Middle East and Africa.
The deal, which is is expected to close during the second half of 2017 subject to conditions and regulatory approvals, will expand Bimbo´s global presence to eight new countries.
Cleary Gottlieb previously advised Bimbo on its $709 million acquisition of Sara Lee Corporation’s North American Fresh Bakery, its €115 million acquisition of Sara Lee’s fresh bakery business in Spain and Portugal, and the acquisition and financing of its $2.5 billion purchase of Weston Foods.
Partner Chantal Kordula led the Cleary team which also included partners Michael Albano, Leonard Jacoby, Daniel Ilan, Jason Factor, Jeremy Calsyn and Steve Horowitz.
White & Case assisted with international diligence and Morgan Lewis provided advice on labour and employee benefits matters.
Atlas Advisors acted as the financial adviser for the transaction.