ȚUCA ZBÂRCEA & ASOCIAȚII advises BRF on the sale of Banvit Foods Romania to Aaylex Group

The Brazil-based BRF, one of the largest food companies in the world (also a listed company on the NY stock exchange and B3 stock exchange), concluded the sale of Banvit Foods Romania to Aaylex System Group S.A., further to a EUR 20.3 million transaction.

ȚUCA ZBÂRCEA & ASOCIAȚII advised the Brazilian food giant – BRF (through Nutrinvestment BV and Banvit Bandirma Vitaminli Yem Sanayii AS) – on all corporate and M&A issues pertaining to the sale of 100% of the shares held in Banvit Foods to Aaylex System Group S.A. for an agreed price of EUR 20.3 million. Signed in December 2020, the deal was subject to certain conditions precedent, including the approval of the local antitrust authority. Aaylex Group owns the companies Avicola Buzău, Aaylex Prod and Aaylex Distribution, as well as the CocoRico brand.

The team of lawyers from ȚUCA ZBÂRCEA & ASOCIAȚII was led by Silvana Ivan, Partner.

Rafael Pellegrini Ribeiro, Head of International Legal Department at BRF: „Silvana was a true partner during the whole project, demonstrating great negotiation skills and deep legal knowledge. During COVID times, she also took the responsibility of representing us locally and got the deal done despite the current difficulties.”

ȚUCA ZBÂRCEA & ASOCIAȚII has a highly experienced Corporate and M&A team, the firm being constantly placed in the top echelon of the market in this area by all legal directories. According to the Legal 500, the firm’s expertise in this field is “spectacular”: “The team is also very good at contract drafting and negotiation, corporate restructurings, joint ventures, selling / acquiring assets etc. They are very strong at dealing with multiple assignments and properly ensuring time management and project management for complex takeover deals”. Furthermore, one of the firm’s clients acknowledges that “promptness and accuracy in delivering legal assistance services are amongst their strengths”.

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