Clifford Chance

Clifford Chance advises METRO GROUP on acquisition of Classic Fine Foods Group

Leading international law firm Clifford Chance has advised METRO GROUP, a Düsseldorf-based global retailing company, on its acquisition of the Classic Fine Foods Group from private equity firm EQT. The transaction covers the operations and all fixed assets of Classic Fine Foods for an enterprise value of US$290 million plus an earn-out of up to US$38 million depending on the company's financial performance in 2015 to 2017.

Singapore partner Lee Taylor, who led the Clifford Chance team on the deal, said, "We are delighted to assist METRO GROUP on this strategic acquisition to expand its operations in the food service industry in Asia. The acquisition of Classic Fine Foods provides METRO GROUP with access to premium food service distribution markets in high growth Asian mega cities and the Middle East‎."

Lee was assisted by senior associate Nathan Sandwell and associates Calum McKeen and Benjamin Moh. Singapore partner Andrew Brereton and associate Lin Lee advised on the financing aspects of the deal. Clifford Chance offices across Asia and Europe advised on due diligence, transaction structuring and regulatory issues.

Classic Fine Foods is a leading premium food service distribution player headquartered in Singapore, serving high-end hotels and restaurants in Asian mega cities and the Middle East. Its geographical footprint covers 25 cities across 14 countries.