Hogan Lovells Advises Maxinutrition Holdings Limited on Sale to GlaxoSmithKline
16 December 2010
LONDON, 16 December 2010 - Hogan Lovells has advised on the sale of Maxinutrition Holdings Limited to Glaxo Group Limited (a subsidiary of GlaxoSmithKline) for £162 million, in a deal announced earlier this week. The deal was announced on 13 December and is subject to competition clearance.
Maxinutrition Holdings is Europe's top-selling sports nutrition company. Hogan Lovells acted for Zef Eisenberg and Paul Hick - the founder and the former chairman of the business respectively, who both retained stakes in the business when it was sold to Darwin Private Equity in December 2007.
Hogan Lovells also acted on the original Darwin MBO, advising previous owners Piper Private Equity and the selling shareholder group on the sale of the business.
This is the third major private equity deal on which Hogan Lovells has advised in as many weeks, in addition to advising DouglasBay Capital plc and management sellers on the sale of Laxey Logistics Limited, and acting as acquisition counsel to Survitec Group Limited on the leveraged buyout of Revere Commercial Marine Business from Revere Supply Company Inc.
Amit Nayyar, partner in Hogan Lovells Private Equity team, said:
"We are pleased to have, once again, advised Maxinutrition on a strategically important transaction. It has been a pleasure to extend our working relationship with the Company in what marks the third successful exit for the Maximuscle brand."
Macfarlanes acted for Darwin Private Equity and Slaughter & May acted for Glaxo Group Limited.
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