Clifford Chance and Watson Farley and Williams advise on the acquisition of a 50% stake in Cacaolat from Damm

Clifford Chance and Watson Farley and Williams have advised on the acquisition of a 50% stake in Cacaolat by Idilia Foods from Damm. This agreement will create the largest milkshake group in Spain. The operation is pending approval by the National Markets and Competition Commission (CNMC).

In this way, Cacaolat will join its already leading and iconic brands – Cacaolat, Letona and Laccao – with the management, marketing and distribution of the milkshake brands ColaCao Energy, ColaCao Shake and Okey. This will allow to continue promoting the development of the milkshake category and the presence of these brands in the national and international market.

At the production level, the agreement maintains the production of Cacaolat brand products at its plant located in Santa Coloma de Gramanet, Barcelona.

Cacaolat will continue to operate independently under the management team led by its CEO, Josep Barbena. The objective is to further accelerate growth in the dairy milkshake market at national and international level.

The Clifford Chance team has advised Idialia Foods and it was led by corporate/M&A partner Guillermo Guardia, with the support of associate Laura Geli.

Watson Farley and Williams has advised Damm on this transaction with a team led by corporate partner Javier Ester and dispute resolution partner Víctor Mercedes. Together with senior associate Héctor Suárez and associate Jorge Rodríguez.