FrieslandCampina to acquire Pakistan’s Engro Foods for €450 million


Royal FrieslandCampina N.V. has signed a share purchase agreement with Engro Corporation to acquire 51 per cent of the shares in its subsidiary Engro Foods Limited, in partnership with the World Bank Group’s International Finance Corporation (IFC) and the Dutch development bank FMO.

The acquisition of Engro Foods, which is the second largest dairy company in Pakistan, enables FrieslandCampina to obtain a key position in Central Asia.

The estimated total cost for the 51 per cent stake is 420 million euro, depending on final settlement.

Headquartered in Karachi, Engro Foods was established in 2006 and has since built a leading position in the Pakistani overall UHT milk segment, including the Specialized Tea Creaming segment.

De Brauw has advised FrieslandCampina on the deal with a team led by Ton Schutte (picture), assisted by Sjoerd van Elferen, Gertjan Harryvan, Edward Weston, Okke Suurenbroek, Klaas Versteeg, Jean-Marc Rovers and Linda Dudink.

Involved fees earner: Ton Schutte – De Brauw Blackstone Westbroek; Sjoerd van Elferen – De Brauw Blackstone Westbroek; Linda Dudink – De Brauw Blackstone Westbroek; Gertjan Harryvan – De Brauw Blackstone Westbroek; Jean-Marc Rovers – De Brauw Blackstone Westbroek; Okke Suurenbroek – De Brauw Blackstone Westbroek; Klaas Versteeg – De Brauw Blackstone Westbroek;

Law Firms: De Brauw Blackstone Westbroek;

Clients: FrieslandCampina;

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