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

The transaction represents a landmark deal for the Bulgarian food sector and a significant development in the local fast-moving consumer goods market. Prestige-96 is one of the best-known sweet baked goods producers in Bulgaria, and the acquisition highlights the continued attractiveness of the Bulgarian market for strategic international investors.

Schoenherr advised Valeo Foods on all Bulgarian law aspects of the transaction, including legal due diligence, transaction structuring, transaction documentation, negotiations and regulatory matters. The completion of the transaction remains subject to customary regulatory approvals in Bulgaria. 

Valeo Foods Group is a leading international food business founded in 2010, headquartered in Ireland and the UK. It is a major player in both branded and private-label products, operating with a strategy focused on "sweet treats" (confectionery and bakery) and snacking.

Prestige-96 is a leading Bulgarian confectionery manufacturer established in 1996, specialising in biscuits, wafers and mini cakes. Based in Veliko Tarnovo, it is a market leader with a modern production plant, employing over 450 people.

The Schoenherr team was led by Ilko Stoyanov (Partner) and included Elena Todorova (Counsel) and Gergana Roussinova-Ivanova (Attorney at Law).