Acquisition of Fricopan by Hiestand
Swiss Capital Group advised Hiestand
Acquisition of Fricopan by Hiestand
Sector(s) : Consumer goods
Date : October 2006
Advisor(s) : Swiss Capital
Advised : Buy Side
Mid-Capital partner Swiss Capital Group advised Hiestand
In November 2006, Hiestand Holding AG acquired Fricopan Back GmbH, a well-known German family business with locations in Berlin and Immekath (Saxong-Anhalt). Fricopan produces an extensive range of deep-frozen and chilled bakery products and generated sales of almost Euro 100m in 2005. In addition to its core market in Germany, the company exports to more than 40 countries including the Scandinavian countries, Italy, Spain, Austria, the UK and the US. This transaction provides Hiestand with new distribution channels, new customer groups and a new range of products. Hiestand's Board of Directors and Group Management consider the purchase of the Fricopan Group an ideal complement to and expansion of their existing business. The transaction yields an increase in earnings per Hiestand share.
The Hiestand Group is one of the world's leading manufacturers of deep-frozen and convenience bakery products with subsidiaries in Switzerland, Germany, Austria, Poland, Malaysia and Japan.
The Group's workforce of 1,918 achieved sales of around CHF 449.6m in 2005. Hiestand Holding AG is listed on the SWX Swiss Exchange with a current Market Capitalization of CHF 731m.
Swiss Capital Group initiated the transaction and acted as sole financial advisor to Hiestand, including the negotiations with the seller, the valuation of Fricopan and the transaction structuring. Furthermore, Swiss Capital Group supported Hiestand in the procurement, negotiation and the acquisition financing and refinancing of the Hiestand Group.
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