European Capital in Acquisition of German Sushi Business
December 19, 2007
Cleary Gottlieb represented Marco Polo Foods, a portfolio company of European Capital, in the acquisition of a majority stake in Wakame Foods on December 19. Financing was provided by a pool of existing senior lenders for Marco Polo led by Fortis.
Founded in 2003, Wakame Foods is one of the largest fresh sushi manufacturers and distributors in Germany.
Marco Polo Foods is a leading producer in the European commercial sushi market. Marco Polo was established in 1999 as the first commercial producer of fresh and frozen sushi products to the French and European retail markets.
European Capital is the European arm of American Capital, which is one of the largest U.S. publicly traded private equity firms with $20 billion in capital under management.