Bakers and Freshfields lead on Sysco’s $3.1bn Brakes deal

Baker & McKenzie and Freshfields Bruckhaus Deringer have won roles on Sysco’s $3.1bn (£2.2bn) purchase of foodservices distributor Brakes Group, owned by Bain Capital.

Freshfields partner Piers Prichard Jones acted for Sysco in London, while the firm’s US corporate head Matthew Herman worked from New York.

Baker & McKenzie’s London private equity head David Allen meanwhile advised seller Bain Capital, a longstanding client of the firm.

While Brakes operates across Europe, Sysco is a foodservice distributor in North America and the deal is expected to expand the latter’s presence in the UK, Ireland and further into the continent.

The companies expect to complete the transaction by the summer, with Brakes due to operate as a standalone company within Sysco.

Background to the deal 

Baker & McKenzie partner Allen has acted for Bain Capital on a number of Brakes-related acquisitions, with the private equity house first snapping up the European company in 2007.

Allen worked on Brakes’ purchase of Nestle’s French frozen food unit Davigel at the end of last year, as well as the merger of Fresh Direct with Brakes’ M&J Seafood, Pauleys and Wild Harvest divisions in 2014.