National firm Ever-sheds has won Icelandic retail company Baugur Group as a new client after advising on its acquisition of luxury jeweller Mappin & Webb Group (M&W).
Traditionally, Baugur has instructed Allen & Overy and Stoke-on-Trent firm Heatons on corporate deals and used them both on the £326m takeover bid of Big Food Group. However, more recently Pinsent Masons was brought in to advise on the acquisition of women’s fashion chain Jane Norman.
It is understood that Eversheds won the work after acting for UK jeweller Goldsmiths on its £110m sale to Baugur in May 2004. Eversheds’ lead partner Mark Spinner said the firm had also targeted the Icelandic market. Baugur is now expected to merge Goldsmiths and M&W.
The acquisition, which was valued at £21m and completed on 22 November 2005, will bring an additional 32 stores to the Baugur Group. Dickson Minto, led by Peter Uri, acted for the vendor, long-standing client European Acquisition Capital.