PwC advises the shareholders of Cesars SIA on its sale to Bidfood Lietuva UAB

23/07/24

In a recent deal, Bidfood Lietuva UAB (Bidfood) acquired a 100% stake in Cesars SIA (Cesars), the leading Asian cuisine foodservice distributor in Latvia and the Baltic States. The transaction strengthens Bidfood’s foothold in Latvia and the Baltic States and widens growth opportunities for both Cesars and Bidfood companies in the Baltics.

As the lead sell-side financial advisor, PwC’s Deals team provided full-scope management of the transaction, including preparing the marketing materials, identifying and engaging investors, coordinating due diligence process, assessing and negotiating received bids, as well as managing all parties involved until the successful completion of the transaction. The Deals team comprised Raimonds Dauksts, Gerds Ivuskans, Vita Vilka and Roberts Dobelis.

PwC Legal provided sell-side legal assistance, preparing full documentation, advising on legal matters and taking part in the negotiation stage, as well as providing the necessary legal support throughout the deal. PwC Legal was represented by senior associate Elvita Gece, with attorney-at-law Janis Gavars engaged as an expert.

“The experience and professionalism of PwC advisers considerably helped us understand the deal process and the pricing mechanism, as well as secured a smooth deal completion. For a company with no M&A experience, especially if most of the prospective buyers are multinationals, hiring professional advisers adds value in managing the entire process, including the negotiation stage, and building a right selling price,”

commented Eduards Sarkans, one of Cesars founders.

Active on the Baltic market since 2000, Cesars is the leading Asian cuisine product distributor in Latvia. The company offers a wide range of food products from traditional Japanese, Chinese, Thai, Indian and other cuisines.

Bidfood is part of the multinational Bid Corporation Limited (Bidcorp) group, which is listed on the Johannesburg Stock Exchange, South Africa, and supplies food products to foodservice companies around the world.

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Raimonds Dauksts

Raimonds Dauksts

Director, Head of Advisory, PwC Latvia

Gerds Ivuskans

Gerds Ivuskans

Director, Head of Deals, PwC Latvia

Vita Vilka

Vita Vilka

Senior Manager in Deals, PwC Latvia

Roberts  Dobelis

Roberts Dobelis

Senior Associate in Deals, PwC Latvia

Elvita Gece

Elvita Gece

Senior Associate, PwC Legal

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