Eversheds Sutherland advises Savola Foods Company on its acquisition of Bayara Holding

Eversheds Sutherland has advised Savola Foods Company, a wholly-owned subsidiary of Savola Group, a leading strategic investment holding group focused on the food and retail sectors in MENA, on its strategic acquisition of Bayara Holding, a UAE-based leading manufacturer and distributor of branded healthy snacks and cooking ingredients, for USD260 million.

The acquisition marks a key milestone in Savola’s strategy of expanding into high growth and value-added food categories, with a focus on healthy foods and the growing younger population.

The Eversheds Sutherland team was led by partner Zeid Hanania with support from principal associate Steve Jennings. Zeid and Steve were assisted by a core team of associates including senior associates Josh Cosoff, Rhydian Wyn and Faris Al Louzi, Samer Hamzeh, principal associate, Hesham Altahan, senior associate and Haya Yaish, associate. Partner Anmar Al Gharifi assisted on Saudi law elements and Charlie Markillie, principal associate, provided competition law advice. Tax assistance was provided by partner Colin Askew and Jannine Nicholas, associate.

Sameh Hassan, CEO, Savola Foods, commented, “Savola Foods received outstanding support on this transaction from Eversheds Sutherland. The team was available around the clock to manage the complex process and close in record timing. Their legal savvy approach and expertise made such a demanding transaction much easier to navigate.”

Lead partner Zeid Hanania, added, “We are privileged to have advised Savola Foods on their successful acquisition of Bayara Holding. This significant transaction not only aligns with Savola’s strategy, it demonstrates their commitment to expansion in healthy foods and we are delighted to have played a part in that.”