Bernitsas Law acted as Greek law counsel to Guala Closures on entering an agreement to acquire of 100% of Astir Vitogiannis Bros SA from a company of the Ideal Group.
Guala Closures is a leading global producer of closures for spirits, wine, edible oil, water and a wide range of other beverages, with a long-lasting expertise in premium design and luxury bottle closures.
Astir Vitogiannis is a Greek crown corks manufacturer with operations in Greece and in South Africa and worldwide exports.
Bernitsas Law advised alongside Bonelli Erede, on the entire transaction cycle, including due diligence and negotiations of the transaction documents in various areas of practice, with a notable complexity in employment and regulatory permits matters. The agreed enterprise value for the acquisition is approx. €136m. The acquisition is subject to various standard closing conditions, including applicable regulatory approvals, and is expected to close in H2 2024.
Our team was led by Partners Lambros Belessis and Evi Kitsou, assisted by Partner Marina Androulakakis advising on Data Protection, Partner Fotodotis Malamas advising on Tax and Counsel Maria Kloni advising on Employment.
Senior Associates Lina Mastrogiannopoulou, Iris Sotiriou and Ioanna Stamou as well as Associates Chryssa Andresaki, Maria Cheimona, Antonis Fix, Sildia Fotopoulou, Yolanda Kalogirou, Marialena Mavrikaki, Anna Meletiou, Niki Nisotaki, Martha Ntounou and Ioniki Poulaki assisted in the due diligence process.
