internationalWKB Wierciński, Kwieciński, Baehr advised BC Bavarian Candles Expansion GmbH on the purchase of 100% of the shares in Korona Candles S.A.
Korona Candles S.A. is one of the biggest global private label manufacturers of candles. The customers of Korona Candles include IKEA and (through its operations in the US) Wal-Mart.
BC Bavarian Candles Expansion GmbH is a German company from the GALA-Kerzen group – one of the portfolio companies of Equistone, a leading mid-market European private equity manager which invests mainly in manufacturing companies, consumer goods companies and business support companies.
The acquisition of Korona Candles was part of Equistone’s strategy to form a group which will become a global leader in the manufacture of candles and home décor products.
The transaction was subject to regulatory clearance from the antimonopoly offices in Austria and Germany, and closed on Thursday, 26 April 2018.
WKB provided the client with comprehensive legal support throughout the whole of the transaction process. In particular, WKB undertook legal and tax due diligence in respect of the company, and advised on negotiations in relation to the transaction documents and warranty insurance.
Jakub Jędrzejak (partner) and Ben Davey (partner) led the team of lawyers advising on the transaction, while other key members of the M&A team included Adrian Michalak (senior associate), Klaudia Frątczak–Kospin (senior associate), Krzysztof Wawrzyniak (senior associate) and Daniel Kida (associate). In terms of advice on the acquisition finance, the WKB team included Marcin Smolarek (partner), Aleksandra Błach (associate) and Monika Obiegło (associate), while on tax matters the key WKB team members were Łukasz Czekański (counsel) and Daria Prygiel (senior associate).
The client was also advised by P+P Pöllath + Partners (regular legal advisor of Equistone), Thompson Hine LLP (in respect of the U.S. law aspects of the transaction) and Watson Farley & Williams LLP (in respect of the German and U.S. tax aspects of the transaction).
For more information, please see the following press coverage:
https://www.pehub.com/2018/04/equistone-backed-gala-kerzen-buys-polish-candle-maker-korona/#
https://www.pb.pl/niemcy-kupili-polska-korone-911645
