InterChina Partners advised Bakkavor on its divestment of Taicang Bakery
InterChina Partners, one of leading investment banking advisory firms based in China, is pleased to announce that it has advised the global leading provider of fresh prepared foods, Bakkavor?on its divestment of 100% equity interest in Bakkavor (Taicang) Bakery Company Limited to Jiangsu Dingweitai Food Co., Ltd. The transaction was closed in April?2024
Bakkavor: ?Bakkavor Group plc (LSE: BAKK) is a leading provider of fresh prepared foods, operating globally. With a rich history spanning several decades, Bakkavor has established itself as a premier producer of high-quality food products. In 2023, Bakkavor recorded substantial growth, achieving sales totaling ￡2.204?billion. The company boasts a diverse workforce of 18,136 employees, spread across various locations worldwide. Operating over?30?factory?sites in the UK, US and China, Bakkavor is committed to excellence in its operations and is consistently recognized for its commitment to sustainability, ethics, and innovation.
Taicang Bakery:??Based in Jiangsu Province, China, Taicang Bakery?specializes in the production of baked goods, delivering specialist frozen and ambient bakery solutions to large QSR & private label customers, and emerging B2C channels. With a focus on quality, innovation, and food safety, Taicang Bakery is committed to delivering delicious bakery products tailored to meet the diverse preferences of consumers. Leveraging advanced technology and industry expertise, the company strives to maintain the highest standards of food safety and production excellence.
Jiangsu Dingweitai Food(DWT),?founded in 2009, is one of the fasted growing Chinese prepared food companies, specializing in the R&D, production and sale of fish paste products made primarily from Alaskan pollock as the main ingredient.
DWT?has a wide product portfolio, supplying?hot pot ingredients, oden, and ready-to-eat foods to renowned customers?such as Walmart Sam's Club, 7-11, FamilyMart, Lawson, Haidilao, LaoWang, and Xiabu Xiabu.
This transaction demonstrates DWT's continuous endeavors to actively manage?its product?portfolio, aiming to cater to and engage premium customers with a diverse selection of innovative products and associated services across diverse?food consumer markets.
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InterChina’s deal team is lead by Eduardo Morcillo,?Partner in Charge, and supported by Kaitlyn Lu, Director, and other team member Yuan Hao.
InterChina served as Bakkavor’s exclusive saleside advisor and provided full saleside services; pre-sale evaluation; preparation of information; solicit interest; negotiating bids; preparation of data room; coordination of data room and support due diligence; general process management and support definitive agreement negotiation and closing.