Bulgaria: Schoenherr advises Valeo Foods Group on acquisition of Prestige-96 AD

The transaction represents a significant milestone in the local fast-moving consumer goods market. Prestige-96 is one of the best-known sweet baked goods producers in Bulgaria, holding a market-leading position in biscuits, wafers and mini cakes. The acquisition underscores the continued attractiveness of the Bulgarian market to strategic international investors.

Valeo Foods Group is a leading international food business, established in 2010 and headquartered in Dublin, specialising in sweets, snacks and treats, with over EUR 2bln in annual net sales. The group's acquisition of Prestige-96 strengthens its portfolio with a premier Bulgarian FMCG brand and provides a platform for further growth in the region.

The transaction was a highly complex undertaking spanning legal due diligence, complex transaction structuring involving sell-side W&I and share transfer via an investment broker, documentation and negotiations, and a challenging merger control process. 

The Schoenherr M&A team was led by Ilko Stoyanov (Partner) and Gergana Roussinova-Ivanova (Attorney at Law). The regulatory workstream was led by Elena Todorova (Counsel). Yoana Strateva (Attorney at Law) and Ema Stoyanova (Associate) advised on the competition law aspects of the transaction. Stela Pavlova-Kaneva (Attorney at Law) advised on the English law aspects of the transaction.