Davis Polk is advising a Ferrero affiliated company on its acquisition of Ferrara Candy Company Holdings, Inc. from private equity firm L Catterton. The transaction, which is expected to close in the fourth quarter of 2017, is subject to customary closing conditions and regulatory approvals.
Founded in 1946, Ferrero is the third-largest company in the global chocolate confectionery market, with global sales expected to exceed $11 billion this year, distribution across over 160 countries and a workforce of more than 30,000 people across 53 countries. Ferrara Candy Company is the third-largest U.S. non-chocolate confectionary company, with strong positions in the gummy and seasonal candies categories.
The Davis Polk corporate team includes partners John A. Bick and Daniel Brass and associates Gary Pong and Paul Lee. Partner Frank J. Azzopardi and associate Paul S. Lee are providing intellectual property and technology advice. Partner David H. Schnabel and associate Isaac MacDonald are providing tax advice. Partner Jean M. McLoughlin and counsel David Mollo-Christensen are providing executive compensation advice. All members of the Davis Polk team are based in the New York office.