Kirkland & Ellis International LLP has advised Oaktree Capital Management LLC, a Private Equity Investor, on the acquisition of the Roncadin S.p.A.'s European Ice Cream Business. The Ice Cream Division of Roncadin S.p.A., an Italian-based, publicly traded company, is Europe's third biggest ice cream manufacturer with operations in Germany, France and Poland. The purchase of Roncadin Ice Cream Group, which consists of 14 companies in 3 countries and generates world-wide revenues of more than EUR 200 million, was finalised on November 5, 2005. While Roncadin S.p.A. is going to focus on its core business Frozen Food and agricultural products after the sale, Oaktree Capital Management will support the Roncadin Ice Cream Division in its expansion.
OCM Principal Investments Fund LP and OCM Principal Investments Fund A LP, two investment funds of Oaktree Capital Management, have acquired the Ice Cream Division from Roncadin S.p.A. for a consideration of EUR 108.5 million in cash and EUR 44 million in debt (aggregate purchase price EUR 152.5 million.).
Kirkland & Ellis under the leadership of Munich-based partner Erik Dahl advised Oaktree Capital Management on this transaction. Further, Kirkland & Ellis attorneys’ Frank Becker (Corporate Partner, Munich), Dr. Roderic Pagel (Tax Partner, Munich), Stefan Schneider (Corporate Associate, London); Ian Taplin (Tax Partner, London), Christian Iwasko (Corporate Associate, London) and Arek Sycz (Corporate Associate, Chicago) were involved in the transaction.
Kirkland & Ellis
Kirkland & Ellis LLP (www.kirkland.com) has more than 1,100 attorneys representing global clients in transactional, corporate restructuring, finance and banking, intellectual property, tax and litigation and arbitration matters. The firm has offices in Chicago, London, Los Angeles, Munich, New York, San Francisco and Washington D.C.
Kirkland & Ellis’ Munich office was established in January 2005 and with 12 fee-earners, focuses on private equity, M&A, general corporate, tax and corporate restructuring. Erik Dahl is a US-qualified partner based in the Munich office since April 2005. Previously, Erik Dahl worked for several years in the London and Chicago offices of Kirkland & Ellis.
Oaktree Capital Management
Oaktree Capital Management LLC is a Private Equity investment company based in Los Angeles, USA, presently administrating assets of more than USD 25 billion. Oaktree also has offices in New York, London, Frankfurt, Singapore and Tokyo. The acquisition of Roncadin Ice Cream is one of Oaktree's first investments in Europe.