COBALT advised investment fund Herkules Private Equity Fund II in connection with the sale of the company group Estrella Maarud to a major savoury snacks manufacturer in Europe Intersnack group. The transaction has already been closed in the Nordics. Closing in Lithuania is subject to merger clearance from the Competition Council of the Republic of Lithuania.
Herkules Private Equity Fund II specialises in buyouts. The fund invests in both private and public companies active in the oil services, health care, consumer, trade, retail, services, and telecom sectors. The fund mainly invests in companies based in Norway and the Nordic region.
Estrella Maarud manufactures and markets salted snacks in the Nordic and Baltic countries. UAB Estrella Baltics is one of Estrella Maarud group companies operating Estrella chips manufacturing facility in Kaunas. The company group has 430 employees. Besides Kaunas, the group also operates Nordic manufacturing plants in Norway and in Sweden.
Intersnack is one of the largest savoury snacks manufacturer in Europe with its head office in Germany. With over 20 well-known brands and a large range of private label products, it has an extensive variety of savoury snacks in their product portfolio. Up to now, only Felix and Chio Chips brands were marketed in Lithuania.
COBALT drafted transaction documents, advised on competition law matters and provided other related legal advice. The project was led by Dr Juozas Rimas, Head of Mergers and Acquisitions Practice Group at COBALT Lithuania, and Senior Associate Eva Suduiko.