Cleary Gottlieb represented Safinco (the holding company of the Vandemoortele family) in its acquisition of the 23.5 percent stake of Gimv in Belgian food manufacturer Vandemoortele NV. Safinco announced on May 26, 2016, an agreement to acquire Gimv’s stake in Vandemoortele for an undisclosed sum, and the transaction closed on May 31, 2016.
Founded in 1899, Vandemoortele is a major European agri-food business, with revenue of €1.4bn. Cleary represented Vandemoortele and its shareholders in connection with Gimv’s equity investment.