The Italian team of Shearman & Sterling advised the Cherubini family in the sale to the private equity fund Equinox of 63 percent of the Salpa group, a leading Italian confectionery company specialized in the production of high-quality ice cream cookies, chocolate decorations, covers, inclusions and toppings, gluten-free products, cookie dough and breadcrumbs for top multinationals in the ice cream, yogurt and confectionery industries and retailers and global clients with the highest international standing, including multinationals such as Unilever, Froneri, Nestlè, Ferrero, Mars, Sammontana, Findus, etc.
The Cherubini family reinvested in the group (holding the remaining 35 percent).
The transaction closed on June 21, 2021.
Shearman & Sterling LLP Firm practices in Italy in association with Studio Legale Associato Shearman & Sterling LLP. Partners in the Rome and Milan offices are partners in Studio Legale Associato Shearman & Sterling LLP.