Biscuiterie Seghers, located in Belgium, has bought the shares of the Dutch company Euro Pâtisserie, located in Twello. This new group represents an annual turnover of about 85 million euros and 320 workers, including 70 in Belgium, said the company in a statement. Both cookie bakeries make cakes for the house brands of large retailers.
Biscuiterie Seghers is one of the top 10 biscuit makers in the Benelux, but with the acquisition of Euro Pâtisserie, an even larger sales area can now be reached.
The group aims for a turnover of 100 million euros by 2020. This acquisition will allow the company to reach a larger distribution area. From Belgium, biscuits are sold in 15 countries, mainly in Europe, while those produced in the Netherlands are found in 40 countries, mainly in Great Britain and Germany. Both companies started in the 1960s as family businesses.
Biscuiterie Seghers was advised by GSJ Advocaten, a Belgian law firm based in Antwerp. GSJ Advocaten was represented by Bart Goossens (Partner and head of the M&A division) and Ingrid Vanhaute (senior associate of the M&A division). Both attorneys-at-law were involved in the entire transaction. They performed the legal due diligence and took the lead in the negotiation and redaction of several contracts such as the non-disclosure agreement, the letter of intent and the share purchase agreement. GSJ Advocaten was assisted by Holla Advocaten (Pim van de Goor) and RSM Belgium, auditors (Luc Toelen).
Paul Schepel and Leonie Ouwersloot-Koster at the Dutch law firm JPR Advocaten Coöperatief U.A. in Deventer acted as counsel to Seller, Euro Patisserie Beheer B.V. and its owner Frits Veldwijk
