Enrico-Glasbest - Squarefield

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Squarefield acted as exclusive financial M&A and debt advisor to Enrico-Glasbest on the acquisition of Bertolli from Unilever

On January 4, 2021, Enrico-Glasbest (or the ”Company”), a portfolio company of Victus Participations, acquired Bertolli from Unilever. The acquisition concerns, amongst other trade mark rights under the Bertolli licence, the European pasta sauces, pesto and mayonnaise activities.

On 16 December 2020, our client Enrico-Glasbest closed the refinancing of its capital structure and raised additional financing for the acquisition of Bertolli. Squarefield has secured a tailor-made debt structure at highly competitive terms in support of the Company’s long-term strategic plan providing ample room for further growth.

“Squarefield knew that Bertolli would be an excellent addition to our business and we are very grateful that they reached out to us once they understood that Unilever would be open for a divestiture. Bertolli perfectly fits with the clients, products, ambitions and strategy of Enrico-Glasbest. Squarefield always kept the right focus during the process and acted very pragmatic. It was a pleasure to work with the team of Squarefield!”

Robin Heetkamp – Managing Director of Enrico-Glasbest

“During the transaction we got to know Squarefield very well. They have supported and advised us with the preparation of the business plan, strengthened us in the negotiations and arranged the refinancing for us. In addition to their Food & Agri expertise, it is particularly striking that Squarefield has an in-dept understanding of the type and size of business they are working for. This made the collaboration between management and Squarefield tremendously educational and pleasant, and the results of the entire transaction are above expectations.”

Andrea Groot Wassink – Financial Director of Enrico-Glasbest