Travers Smith advises Investec on the cash confirmation of DBAY's takeover bid for Finsbury Food Group plc
Travers Smith has advised long-standing client Investec on the cash confirmation of the £1434m takeover bid of speciality bakery manufacturer Finsbury Food Group plc by asset manager and largest shareholder DBAY.
Finsbury is a leading UK and European manufacturer of cake and bread bakery goods, supplying a broad range of blue-chip customers within both the grocery retail and 'out of home eating' foodservice sectors including major multiples and leading foodservice providers. The takeover by DBAY is financed by equity drawdown and debt finance.
The Travers Smith team on this transaction was led by Corporate Partner Richard Spedding, and included Associates China Waters and Ella Price. Finance advice on the deal was provided by Partner Katie McMenamin and Senior Associate Michael Leadbeater, with Funds support by Associate Jonathan Trent.
This transaction is just one of a number of recently announced or completed takeovers worked on by the Travers Smith team, including the offers for DWF, Blancco Technology, EMIS, Medica Group, Numis, Cenkos, Devro, Crestchic, Ideagen, Adept Technologies, Brewin Dolphin and Xpediator. Travers Smith is currently working on 20% of all announced takeovers in the UK.