Global law firm Clifford Chance has advised Louis Dreyfus Company Suisse S.A. (“LDC”), a leading global merchant and processor of agricultural goods, on the planned acquisition of the Food and Health Performance Ingredients business including the production site in Bavarian Illertissen from BASF SE. The transaction is still subject to customary closing conditions, including approval from relevant regulatory bodies.
As part of the agreement, approximately 300 employees are expected to transfer from BASF to LDC as of the closing of the transaction. Both parties have agreed not to disclose financial details of the transaction.
For LDC this is the first investment in dedicated facilities to produce food and health performance ingredients at scale and an opportunity to accelerate its participation in the rapidly growing plant-based ingredients market.
The food and health performance ingredients business includes food performance ingredients such as aeration and whipping agents, food emulsifiers and fat powder grades; health ingredients such as plant sterols esters, conjugated linoleic acid (CLA), omega-3 oils for human nutrition and some smaller product lines.
Headquartered in Rotterdam and founded in 1851, LDC has a diverse portfolio that covers the entire value chain from production to distribution. The company is active in more than 100 countries worldwide, employing over 18,000 people.
LDC Inhouse advice was provided by Massimiliano Talli (Global Head of Legal), Karen Norris (Chief Legal Officer EMEA), Stephen Jameson (Senior Legal Counsel) and Gustavo Marquetti (Legal Counsel EMEA).
The Clifford Chance team was led by partner Thomas Krecek and comprised senior associates Michael Nellen, Friedrich von Bülow, associates Frederic Hölscher, Julien Schickling (all Frankfurt) and associate Marie Karle (Düsseldorf) (all Corporate/M&A), partner Gunnar Sachs, senior associate Marlene Kießling, associate Annabel Joschko (Corporate/Healthcare, Düsseldorf), Pascal Weber (LPM Programme Manager, Düsseldorf), partners Stefan Simon and Christopher Fischer, associate Julia Kolb (all Employment, Frankfurt), counsel Amrei Fuder (Real Estate, Frankfurt), senior associate Julius Schradin (Antitrust, Düsseldorf), partner Dominik Engl and counsel Claus-Peter Knöller (both Tax, Frankfurt), partner Holger Lutz, counsel Nadine Neumeier and senior associate Michael Kümmel (all Tech/Digital, Frankfurt), senior associate Nicolas Hohn-Hein, Transaction Lawyer Andrea Abele (both IP, Düsseldorf).
