Telles advises on sale of Portugal’s leading dairy group

Telles has advised 100% of the sale of Portugal’s leading dairy group, consisting of Sequeira & Sequeira (S&S), Lacticínios do Paiva, S.A. (Portugal), Lactopaiva Cabo Verde and Lactopaiva Moçambique, to the world’s leading dairy group, Lactalis.

The multidisciplinary Telles team involved on the transaction was led by Nuno Marques (pictured left), of counsel in the corporate, transactions and private equity department, with the participation of associate André Magalhães (pictured centre). The tax team included partner José Maria Cabral Sacadura (pictured right).

Telles accompanied all stages of the sale process, advising on the restructuring of the group, advising the shareholders on the overall strategy of the transaction, drafting and negotiating the necessary instruments for the transaction, namely the share purchase agreement and other ancillary documents, and preparing and advising on the signing of the transaction.

Founded in 1986 in Vouzela, S&S started as a food distributor and later acquired Lacticínios do Paiva and is now one of the leading players in the dairy sector. S&S distributes more than 50 premium food and beverage brands, including the branded products of Lacticínios do Paiva. Lacticínios do Paiva is Portugal’s leading independent dairy producer, with an international presence in more than 20 countries and 5 continents, a group of around 300 people and a turnover of around 60 million euros.

Michael Heron