Wong & Partners and Christopher & Lee Ong, the Malaysian member firms of Baker McKenzie and Rajah & Tann Asia, respectively, have advised on Tsao Pao Chee’s (TPC) acquisition of a majority stake in Euro-Atlantic for an undisclosed amount.
Under the deal, Euro-Atlantic will become part of TPC’s food systems business unit and will continue to operate under its existing brand.
Wong & Partners advised Singapore-headquartered TPC. Partner Addy Herg led the team, which included associates Adrian Koh, Lau Sherley, Raynice Chew and Yee Xuan Tan.
“We supported TPC in their professional and strategic assessment of the resilience of Euro-Atlantic’s high-quality, sustainable and wellness-focused distribution channels, and its compliance with food processing standards and regulatory requirements, these being the core drivers for an FMCG business where food safety and responsible product offerings lie at the crux of the business sector,” Herg told Asia Business Law Journal.
Herg said the shared strategic outlook between the parties was a key feature of the deal.
“The strong alignment between TPC and the founders of Euro-Atlantic, who share a common strategic vision on sustainable growth and long-term value creation. The principals are united by a deep commitment to product quality and service excellence, making the role of legal adviser a facilitative and strategic one in achieving the common goals and aspirations shared. It is a pleasure for us to help bring this joint venture spirit of TPC to fruition,” he said.
Christopher & Lee Ong represented Euro-Atlantic’s shareholders in connection with the sale of their shares. The firm handled negotiations on the share sale and purchase agreement and shareholders’ agreement, and assisted the sellers in satisfying the conditions precedent and completing the transaction.
The team comprised consultant Lee Hock Chye, who is managing partner of Rajah & Tann Laos, partner Por Chuei Ying, senior associate Teo Jer Ning and associates Ashley Khor and Sherlene Tiang.
Established in 1992 and based in Kuala Lumpur, Euro-Atlantic imports and distributes specialty fruits, vegetables, seafood and gourmet groceries.
