Shearman & Sterling advised the Tetra Laval group on its agreement to acquire, through its subsidiary DeLaval, the milkrite | InterPuls business from LSE-listed Avon Rubber p.l.c. for a cash consideration £180 million on a cash and debt free basis. The transaction is subject to customary closing conditions and is expected to complete in the final quarter of 2020.
milkrite | InterPuls is a global leader in providing complete milking point solutions to dairy farmers across the world with the aim of improving every farm it touches. Tetra Laval consists of three industry groups, DeLaval, Tetra Pak and Sidel, all focused on technologies for the efficient production, packaging and distribution of food. DeLaval is a market leader that provides integrated milking solutions designed to improve dairy farmers' production, animal welfare and overall quality of life.
The Shearman & Sterling team below also included associate Alex Liebmann.