SCA picks RPC for Procter & Gamble tissue acquisition

Reynolds Porter Chamberlain (RPC) and the London office of Jones Day have scooped the lead roles advising on the £350m acquisition of Procter & Gamble’s (P&G) European tissue business.

RPC, led by corporate partners Jonathan Watmough and James Mee, represented Swedish paper giant SCA on the acquisition, which includes the Tempo paper handkerchiefs brand and the European licences for Bounty kitchen roll and Charmin toilet paper.

Jones Day advised P&G, led by London corporate partners John Phillips and Leon Ferrera. The US firm has a longstanding relationship with P&G, as both are headquartered in Cincinnati in the US.

The deal, which also included P&G’s five European operations around the UK, Germany, France and Italy, makes SCA Europe’s largest tissue business.

Freshfields Bruckhaus Deringer assisted on local law issues in Europe, with partners Henning Oesterhaus, Bertrand Pellet and Giuseppe Dolcetti leading in Germany, France and Italy respectively.

The magic circle firm was recommended for the work by Mee, who worked at Freshfields for nine years before joining RPC in 2004.

SCA turned to its regular competition adviser Lovells for advise on merger control issues. Brussels partner Tom McQuail led the firm’s team.

This deal is the latest in a string of acquisitions RPC has undertaken for SCA in recent years, including its $200m (£103.49m) investment in, and subsequent buyout of, Copamex’s Central American tissue business in December 2004.