Nov 3, 2009 - DragonKnight Advisors (France, UK) and MPE Finances (France) linked up with Nýi Kaupþing banki (Iceland) advised on the takeover bid on the shares of Alfesca hf. made by Lur Berri Iceland ehf, a subsidiary of Lur Berri Holding SAS.
Lur Berri Iceland ehf. and Lur Berri Holding SAS were advised by MPE Finances and DragonKnight Advisors. Nýi Kaupþing banki hf. acted as the financial manager in relation to the takeover bid.
Alfesca is a leading European producer and supplier of convenience, fine seafood and premium products to retailers and food-service providers. The Company's activity is organised around four pillars: smoked salmon and fish, foie gras and duck products, blinis and spreads and prawns and shellfish.
The takeover bid expired on 17 August 2009. Subsequently, Alfesca's shares held by shareholders to whom the offer was made but not accepted were redeemed in accordance with applicable rules.
Lur Berri Iceland ehf. and the members of the consortium presently own 99.43% of the Alfesca hf.'s issued share capital and control all of the company's voting rights taking into account the shares held in treasury by the company amounting to 0.57% of its issued share capital.
Shares of Alfesca hf. were removed from trading on the main market of NASDAQ OMX Iceland hf at the end of trading day on 5 October 2009. Lur Berri expressed his satisfaction in the way DragonKnight Advisors and Nýi Kaupþing banki ran the whole process and would like to more particularly thank Stephan Gaude, managing partner of DragonKnight Advisors and his team for their leading role in the transaction. Olivier Gemin, managing Director would like to thank Brandford-Griffith & Associes (Jerôme Brosset, partner, and Geraud Riom, senior associate) for their crucial role on the legal side.
Olivier Gemin commented that he was impressed by the synergies between DragonKnight Advisors and Brandford-Griffith and the reactiveness of both teams.
Information on Lur Berri
Lur Berri is an agribusiness company with a consolidated turnover of 412 million euros over the last financial year. The main three areas of activity of the Lur Berri Group are:
• Production of plants carrying corn grain, sale to farmers of agri-products, open field production of vegetables, and of multiplication of corn seeds.
• Breeding of animals, principally in the following categories: web-footed birds, cattle, pigs, sheep. The group also has a production unit for animal feed.
• Finally, a distribution centre made up of a distribution/garden centre (under the Gamm Vert brand), a DIY centre (under the MR Bricolage brand) and a pet food centre.
Lur Berri has a policy of active partnerships in each of the sectors the group is involved in and to this effect has made the following investments:
• 43% of Arcadie Sud Ouest (turnover of 320 million euros), a company specialized in slaughtering, cutting and distribution of meat.
• 90% of the Spanghero Group (turnover of 90 Million euros), a company specialized in fresh pre-prepared dishes and cooked meat and poultry dishes.
• 50% of a holding company specialized in rearing fatty ducks, owned jointly with the Spanish group Martiko, one of the Spanish market leaders in salmon and foie gras,
• 9% of the 2nd European dealer in frozen vegetables, Pinguin-Lutosa (turnover of 440 Million euros),
• Lur Berri has also developed a close partnership over several decades with Pioneer Hi-Bred International, the world's leading developer and supplier of corn seed products,
• Lur Berri has created together with the Mr Bricolage group, a holding company for regional development under the Mr Bricolage brand.
Information on DragonKnight Advisors
DragonKnight Advisors is an independent Corporate Finance Advisory Boutique based in Paris and London, focused on public and private transactions on medium size companies in Europe. The firm was founded by international professionals on the belief that corporate finance services to small and medium companies should be improved by giving greater focus on the real issues of the company. DragonKnight Advisors directors and employee pride themselves on having the vision, knowledge, relationships and creativity to give their clients the competitive hedge they require.
Information on MPE Finances
MPE is an independent French player for business and local authorities in the optimisation of interest rate and exchange risk. Their services also include financing and debt rescheduling, organised around a trading room in Paris run by professionals in money markets transactions.
Information on Brandford-Griffith & Associes Brandford-Griffith & Associes is a leading independent French law firm which concentrates its activities on certain specialist areas such as stock exchange law, mergers and acquisitions, privatisations, regulatory, financial and banking services, litigation and arbitration, capital markets and tax law. The firm was founded by several teams of lawyers sharing a common vision of their profession and complementary skills available to serve institutional, French and overseas clients.