Bird & Bird has represented Meyers in its merger with Løgismose in what has been one of the major M&A transactions in the Danish market. On 15 January 2015 two of Denmark's biggest food brands merged into a new group owned by L+M ApS.
The merger was approved by the Danish Competition and Consumer Authority, and the new group is now ready to operate and further develop the Nordic food culture.
The majority shareholder in the new group is IK Fund VII. The minority shareholders include Claus Meyer Nielsen, three of the former Løgismose owners, selected members of the new group's management team and other minority investors, one of them Dansk Vækstkapital.
Meyers and Løgismose have both played a crucial role in the development of the Danish food culture. Løgismose is known for brands such as Falsled Kro and Restaurant Kong Hans Kælder, as well as a wide range of wine and food products in the Danish grocery shops. Claus Meyer Nielsen has made his mark through the following brands: Meyers Køkken (kitchen), Meyers Deli, Meyers Bageri (bakery), Meyers Madhus (cooking classes, teambuilding, training, food guidance and others), Meyers Kantiner (canteens), along with several books, TV projects, the ‘Nordic cuisine’ movement and the world’s best restaurant Noma, which Claus Meyer Nielsen founded together with chef Rene Redzepi.
Jacob Grønlykke, Co-owner of the new L+M Group and former chairman of the board of directors of Løgismose A/S commented: "We have decided to merge our companies because we share a common vision of developing and increasing the quality of food to the benefit of our consumers."
Claus Meyer Nielsen, co-owner of the new L+M Group and a former sole owner of the Meyer Group, added: "We are committed to further developing our cooperation with consumers, farmers and other stakeholders and continue to focus on taste, responsibility and diversity. It is a task which we perform better together."
Bird & Bird Denmark represented the Meyer Group in the merger, and it also assisted in reorganising the Group prior to the deal. The reorganisation included intergroup demergers, capital increases, share transfers, liquidations and more. Bird & Bird also assisted Meyers with the corporate and commercial negotiations and in finalising the deal, adding further value to the client and to the future joint entity.
Bird & Bird was represented by Christian Scherfig, Partner and Jacob Moltke Hoff, Attorney-at-law.
About Bird & Bird
Bird & Bird LLP is an international law firm, with a rare and invaluable grasp of strategic commercial issues. We combine exceptional legal expertise with deep industry knowledge and refreshingly creative thinking, to help clients achieve their commercial goals. We have over 1100 lawyers in 27 offices across Europe, the Middle East and Asia, as well as close ties with firms in other parts of the world. If you want to find out more, visit www.twobirds.com.
About IK Investment Partners
IK Investment Partners (IK) is a capital fund, which has raised more than € 7bn since 1989. IK has invested in more than 85 European companies with a focus on the Nordic countries, German-speaking countries, France and Benelux. IK invests in medium-sized companies with a strong potential. At the moment, IK is operating a 19-company portfolio.
Løgismose is a Danish business which has around 160 employees. The main activities in Løgismose are the production of food, import of wine, oysters and other delicacies and operation of its own stores as well as hotels and the gourmet restaurants Kong Hans Kælder and Falsled Kro.
About the Meyer Group
The Meyer Group is a Danish group, including some 20 companies. The main activity in the Meyer Group is the operation of gourmet restaurants, canteens and catering. Meyers is also engaged in fruit growing, processing, trade, teambuilding, research, communication, training and consulting. In 2012, the Meyer Group had revenue of more than € 67m.
The previous CEO of the Meyer Group, Steen Halbye, is now the CEO of the new, merged company L+M ApS.
The previous sole owner of the Meyer Group, Claus Meyer Nielsen, is in addition to his work in the L+M Group, currently working on the establishment of a restaurant/food court in Vanderbilt Hall on Grand Central Terminal, Manhattan, New York City.