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Nuremberg, 20 December 2019: Rödl & Partner assisted the fruit expert Zentis with financial and tax advice on the sale of its shares in the Marsolo Group, including its indirect shareholding in the Peeters Produkten B.V. based in Roosendaal (Netherlands) to the Krüger Group based in Bergisch Gladbach. The Krüger Group is taking over the manufacturing facility and all 100 employees in Roosendaal. The acquisition agreement was signed on 18 December 2019. The parties agreed not to disclose the purchase price. The transaction is subject to the approval by the competent merger control authorities and other usual completion conditions.
During the sales process Zentis was supported by an international team of experts specialising in transaction consulting, which was coordinated by Rödl & Partner. The Partner Cyril Prengel was entrusted with the overall project leadership. The consulting services concerned both, the acquisition of the outstanding shares in the Marsolo Group by Zentis as well as the subsequent sale of all shares in Marsolo, including those in Peeters Produkten B.V., to the Krüger Group.
The consulting services focused in particular on the management of several teams in Germany and the Netherlands, and on conducting a financial and tax due diligence review of the Marsolo Group. The services covered also Vendor Assistance to provide buy-side support and to monitor the due diligence by the Krüger Group. In addition, Rödl & Partner supported Zentis in the business valuation of the target and provided comprehensive advice on financial aspects during the drafting and negotiations of the sale and purchase agreement.
Wesselman Accountants Adviseurs was responsible for tax law advice in the Netherlands. Legal assistance for the transaction was provided by Daniel Hagelskamp & Kollegen Rechtsanwälte und Steuerberater, Aachen.
Zentis was founded in 1893 in Aachen and has always been a family business. For over 125 years Zentis has stood for unparalleled expertise in the processing of fruits and other natural raw materials. The company's outstanding innovative strength has made Zentis one of Europe's leading fruit processors as well as an indispensable partner and driving force for the processing industry and trade. Zentis' jams and confectionery are manufactured exclusively in Germany at the Aachen headquarters. By contrast, fruit preparations for the processing industry are only manufactured in the company's sites outside Germany. Zentis employs more than 1,100 people at its Aachen location and has over 2,100 employees worldwide.
The former Zentis subsidiary Peeters Produkten B.V. specialises in manufacturing sweet cream and spread paste products. These are manufactured in particular under the company's owns brands Duo Penotti and Penotti and distributed by the Marsolo Group.
Cyril Prengel, Partner (Transaction Services), Nuremberg, overall project responsibility and project management Financial – Financial
André Heuer, Senior Associate (Transaction Services), Nuremberg, project management financial due diligence – Financial
Christoph Lebschi, Senior Associate (Transaction Services), Nuremberg, project management business valuation – Financial
Johannes Roßner, Associate (Transaction Services), Nuremberg – Financial
Florian Kaiser, Partner (Tax Law), Nuremberg, project management Tax – Tax
Dr. Patrick Satish, Associate Partner (Tax Law), Nuremberg – Tax
Maurice Bouwens, Senior Tax Manager, Helmond – Tax (NL)
Bram Driessen, Tax Adviser, Helmond – Tax (NL)
Dirk Daniel, Partner (Attorney at Law, Tax Adviser), Aachen, project management Legal – Legal
Christoph Schmitz-Schunken, Partner (Attorney at Law, Tax Adviser), Aachen – Legal
Dr. Joachim Peters, (Of Counsel), Aachen – Legal
Cyril Prengel
Partner
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Florian Kaiser
