Hogan Lovells advised Newlat Food on the acquisition of Symington's

Hogan Lovells advised Newlat Food on the acquisition of Symington's

Press releases | 04 August 2021

Reggio Emilia, 4 August 2021 - International law firm Hogan Lovells have advised Newlat Food S.p.A., a leading Italian and European agribusiness player listed in Italy, on the acquisition of the entire share capital of the Symington Group [consisting of Symington's Limited, Symington's (Holdings) Limited and Symington's Australia PTY Limited] from Speedboat Acquisitionco Limited.

Valued at £53 million, equal to €62.13 million, the transaction was not subject to any conditions; it was completed on 4 August 2021.

Founded in 1827, Symington's is a UK-based company that produces a wide range of food products under its own and third party brands. The deal aims to consolidate Newlat Food's presence in the UK market by leveraging Symington's distribution platform across the country as well as its strong relationships with key UK retailers, in particular for the distribution and cross-selling of Newlat Food's Pasta and Bakery products.

The Hogan Lovells' international team was led by Corporate & finance partner and Head of M&A in Italy, Leah Dunlop, with support from Niccolò Lavorano (corporate associate) as well as a London team consisting of Tom Eyre-Brook (Senior Associate Tax), Scott Gibson (Senior Associate Banking), James Maltby (Partner BRI) and Celine Buttanshaw (Senior Associate BRI) .

Addleshaw Goddard LLP advised the seller, led by partner Richard Hunt with support from associate David Parker, James Whittam and Cameron Allwood.