Two years after helping form D.E. Master Blenders 1753 by advising on the breakup of U.S. consumer goods giant Sara Lee Corp., Skadden, Arps, Slate, Meagher & Flom is once again representing the investment vehicle of Germanys dynastic Reimann family on its acquisition of the leading European coffee and tea company.
Amsterdam-based D.E. Master Blenders (DEMB) announced Friday that it had reached an agreement with Reimann-controlled conglomerate Joh. A. Benckiser (JAB) on a takeover bid, which values the target at roughly $9.8 billion. JAB initially unveiled in late March its plan to acquire the 85 percent stake in DEMB it didnt already own, having already accumulated a more than 15 percent stake in the worlds third-largest coffee producer following the completion of its spinoff from Sara Lee last year.
