CC full of beans after Heinz victory

Clifford Chance is celebrating a coup after advising food group Heinz on the successful acquisition of HP Foods.

According to reports Heinz beat off competition from Premier Foods and Associated British Foods to secure the iconic sauces business from Group Danone for approximately £470m in cash.

The deal, which is expected to close during the next few months, includes HP Foods in the UK and Lee & Perrins in the US and provides for Heinz to be granted a licence for the use of the Amoy brand in Europe. Amoy is a trademark for Danone in Asia.

The Clifford Chance team was led by partners Adam Signy and Kathy Honeywood, with fellow partner Michael Bryceland advising on competition aspects.

Freshfields Bruckhaus Deringer advised longstanding client Danone.