Watson Farley & Williams (“WFW”) advised Damm on the sale of a 50% stake in Cacaolat to Idilia Foods, subject to the approval of Spanish Competition Authority (CNMC).
The deal integrates Idilia Foods’ milkshake business with that of Cacaolat, previously solely controlled by Damm, to create Spain’s largest blended drinks group managing such iconic national brands as Cacaolat, Laccao, ColaCao and Okey.
Founded in 1876, Damm is a prominent Spanish beverage company based in Barcelona with an annual turnover of €2bn+ and an extensive portfolio of beers, bottled water, soft drinks and other beverages. Its commitment to quality and innovation have helped make it a key player in the global beverage industry.
Idilia Foods is a renowned Spanish food company specialising in breakfast foods and spreads, including popular brands such as Colacao, Nocilla and Paladín. A household name in Spain, it enjoys an annual turnover of 300m+.
The WFW Madrid team that advised Damm was led by Partners Víctor Mercedes (Dispute Resolution) and Javier Ester (Corporate), working closely with Senior Associate Héctor Suárez and Associates Javier Ortega and Jorge Rodríguez.
Víctor commented: “We are grateful for the trust Damm placed in us and pleased to have advised them on such a strategic collaboration between two industry leaders”.
Javier added: “Damm’s partnership with Idilia Foods not only strengthens their market position but also promises to deliver exceptional value to consumers”.
Clifford Chance acted as Idilia Foods’ legal counsel.
