Noerr advises German shareholders on foundation of one of the largest Brazilian dairy producers

Noerr has advised the German shareholders of Brazilian family-owned dairy producer Embaré on establishing a joint venture with Brazilian competitor Betania. A Noerr team led by Munich-based partner and tax practice co-head Georg Edelmann advised the shareholders on the transformation and income tax aspects of the transaction as well as on issues of foundation, inheritance and gift law. The value of the transaction is around 1.7 billion reals (approximately €268 million).

The transaction will create one of Brazil’s leading milk-processing companies under the leadership of US private equity fund Arlon, which has held a stake in Betania –  also a family-run business – since 2017. The new company will achieve annual sales of around four billion reals (approximately €640 million).

Advisors to German Embaré shareholders: Noerr

Georg Edelmann, Dr Michaela Engel, Severin Garreis (all Tax, Munich), Dr Holger Alfes (Corporate, Frankfurt), Frank Schuck (Foundation Law, Munich).