Deloitte Legal advises German heristo-group on the sale of a majority participation in the meat substitute producer LikeMeat to Foods United
A Deloitte Legal team led by Düsseldorf-based Corporate/M&A partner Dr. Michael von Rüden acted as advisor to heristo-group in the sale of a 51%-participation in LikeMeat, one of the leading German providers of vegan alternatives to meat products. The majority participation in LikeMeat was acquired by US-based Foods United Inc.
Dr. Michael von Rüden and his team have regularly been working for heristo-group since 2016 and have assisted heristo-group in various M&A transactions, including the sale of Paulsen Food in 2017 and the sale of Günther Janßen Handels GmbH in 2019. In the context of the present transaction in the highly dynamic environment of plant-based substitute products for poultry and meat, they were again able to draw on their extensive experience in the food & beverage industry.
heristo-group is a family-owned group of companies active in the fields of meat refinement, delicatessen, pet food, wholesale and foreign trade of food products, with presence with a wide range of products and services in both the domestic German as well as the international market. It is one of the largest players in the German food industry, ranks among the largest European manufacturers of pet food and also engaged in worldwide trading operations. About two thirds of the group's turnover is generated by the production of private label products.
LikeMeat was founded in 2013, as a German start-up company based in Düsseldorf, focusing on products for a delicious, modern and balanced diet. LikeMeat offers a wide range of plant-based meat substitutes and has been growing rapidly in the domestic German market. Since 2017, the company has also been exporting its products to other European countries and the US. Nowadays, LikeMeat employs around 100 employees at its production facility in Oss, the Netherlands, and at its headquarters in Düsseldorf, Germany.
Foods United follows the strategy of the establishment and expansion of an extensive investment portfolio in the growing market for meat substitutes and is focused on the entire value-added chain: from the procurement of raw materials to production and distribution. The company is majority-owned by the Swiss investment company Blue Horizon Corporation AG. Besides Blue Horizon, 20 other investors have invested in Foods United.
Advisors to heristo-group:
Deloitte Legal : Dr. Michael von Rüden, LL.M. (USA) (Partner, Corporate/M&A, Düsseldorf, Federführung), André Giesen, EMBA (Senior Associate, Corporate/M&A, Düsseldorf), Horst Heinzl, M.C.L. (HKU) (Senior Associate, Corporate/M&A, Düsseldorf).
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