Fonds de solidarité FTQ and Caisse de dépôt et placement du Québec’s Acquisition of 65% of Bonduelle Americas Long Life

Gowling WLG, Willkie and PwC Société d’Avocats acted for Bonduelle on the deal.

Bonduelle Group (“Bonduelle”) announced that it had entered into exclusive negotiations with Fonds de solidarité FTQ and Caisse de dépôt et placement du Québec (“CDPQ”), to sell 65% of Bonduelle Americas Long Life (“BALL”), with an enterprise value of C$850 million (approximately €625 million), to these investors.

BALL processes and markets canned and frozen vegetables in the United States and Canada, in the retail supermarket and food service sectors, mainly with private labels, third party brands and its own brands such as Arctic Gardens and Del Monte.

This partial disposal follows the strategic review of Bonduelle’s activities, and in particular BALL, announced in September 2021. It is intended to enable Bonduelle to further pursue the deployment of its activities, in particular the development of its branded activities, in line with its strategic priorities and its ambition of sustainable growth with positive impact.

Gowling WLG is counsel to Bonduelle with respect to this transaction with a team led by Marc Tremblay (Picture) and Robert Dorion, and that includes, among others, Georgi Paskalev and Yasmine Mekallach (corporate/M&A), Jean-François Vadeboncoeur (banking); Laura Gheorghiu (tax); Nicolas Cayouette and Kathryn Chadwick (environment); Ian Macdonald (competition); Pierre-André Hamel (real estate); and Philippe Matziorinis (IP).

The Willkie team included Eduardo Fernandez, Ralph Unger, Mark Getachew, Jeffrey Himleson, Luisa Davis.

The PwC Société d’Avocats included Stéphanie Verzura, Matthieu Leroux and Julie Rigaud.

Involved fees earner: Nicolas Cayouette – Gowling WLG; Kathryn Chadwick – Gowling WLG; Robert Dorion – Gowling WLG; Laura Gheorghiu – Gowling WLG; Pierre-André Hamel – Gowling WLG; Ian Macdonald – Gowling WLG; Philippe Matziorinis – Gowling WLG; Yasmine Mekallach – Gowling WLG; Georgi Paskalev – Gowling WLG; Marc Tremblay – Gowling WLG; Jean-François Vadeboncoeur – Gowling WLG; Matthieu Leroux – PwC Tax & Legal; Julie Rigaud – PwC Tax & Legal; Stéphanie Verzura – PwC Tax & Legal; Luisa Davis – Willkie Farr & Gallagher; Eduardo Fernandez – Willkie Farr & Gallagher; Mark Getachew – Willkie Farr & Gallagher; Jeffrey Himelson – Willkie Farr & Gallagher; Ralph Unger – Willkie Farr & Gallagher;

Law Firms: Gowling WLG; PwC Tax & Legal; Willkie Farr & Gallagher;

Clients: Bonduelle SCA;

Giulia Di Palma

Author: Giulia Di Palma