Shearman & Sterling advised frostkrone Group, a portfolio company of Emeram Capital Partners and one of Europe’s leading manufacturers of frozen convenience food, on the financing of the acquisition of Piz’Wich, a specialist manufacturer of on-the-go frozen snack products. Sellers are, inter alia, Piz’Wich’s management as well as the France-based private equity investment company Ardian.
Piz’Wich is a manufacturer of white-label frozen snack products targeting supermarkets and hypermarkets, airline caterers and food service providers. The company, located in Bulgnéville, France, established strategic partnerships with largely international players.
EMERAM, based in Munich, is an independent private equity firm for mid-cap companies in the German-speaking area. The equity for this transaction was provided by funds advised by EMERAM Capital Partners to drive the development of companies, drawing upon a fund volume of €350 million. EMERAM focuses on long-term business development partnerships in five industry sectors: consumer goods, retail, industrial goods, business services and healthcare. The Shearman & Sterling team advised EMERAM in 2017 on the financing of the acquisition of frostkrone.