Shearman & Sterling advised Bayerische Landesbank on the financing of the acquisition of the branded business of Cloetta Italia by Katjes International. In addition to partially financing the acquisition, the financing serves to cover working capital requirements.
Katjes International is the international holding company of Katjes group. Katjes International pursues a buy and hold approach and acquires companies with established brands in the Western European confectionery market.
Cloetta Italia has approximately 400 full time employees and a broad distribution across Italy, with its headquarters in Cremona, Northern Italy. The company's production comprises four sites located in Cremona, Gordona, St. Pietro in Casale and Silvi Marina. The best known brands include Sperlari (hard-boild candy), Saila (liquorice) as well as Dietorelle (sugar-free).