Clifford Chance has represented Metro Group, Germany’s largest retailer, on its acquisition of the Classic Fine Foods Group from private equity firm EQT, which was advised by Baker & McKenzie.
The $290 million deal includes all fixed assets and operations of Classic Fine Foods, as well as an earn-out of up to $38 million, depending on the Singapore-headquartered company's financial performance from 2015 to 2017.
The Clifford Chance team was led by Singapore partner Lee Taylor, with assistance from fellow Singapore partner Andrew Brereton.
The Metro Group, which is based in Düsseldorf, has been expanding its operations in Asia. Classic Fine Foods is a premium food-service distribution business that serves high-end hotels and restaurants in 25 cities across 14 countries, including Asian mega cities and the Middle East.
