Baker McKenzie advised Viscofan on the acquisition of Nitta Casings.
The transaction included the cash acquisition of 100% of Nitta Casings Inc. in the United States and 100% of Nitta Casings (Canada) Inc. in Canada for an enterprise value of US$ 13.5 million and an additional US$ 1.5 million if EBITDA for 2020 reaches US$ 1.8 million. Viscofan has paid US$ 2.8 million in cash and incorporated US$ 10.7 million as financial debt and pensions.
Viscofan is a global leader in the manufacturing, production and distribution of casing for the meat industry.
Nitta Casings is the casing collagen division from the Japanese Group Nitta Gelatin Inc., a public company listed in the Tokyo Stock Market specialized in the production and distribution of collagen products for the pharmaceutical, food and industrial sectors.
The Baker McKenzie team from North America was led by partner José Moran (Picture) and included partner Lewis Popoff as well as associate Carlos Suarez.
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