DLA Piper advises Guala Closures Group on the acquisition of the assets of Germany’s Closurelogic

DLA Piper has advised the Guala Closures Group, one of the world leaders in the production of security closures for spirits and aluminium closures for wines, as well as one of the major world producer and distributor of aluminium closures for the beverage industry, on the acquisition of the activities of Closurelogic GmbH, the German producer specialised in the aluminium closures.

The transaction includes the acquisition of operational property by way of a distressed asset deal from Closurelogic GmbH in self-administered insolvency proceedings. All existing employment relationships of the approximately 160 employees will be continued.

Closurelogic GmbH filed for insolvency on 18 September 2019. The insolvency court opened insolvency proceedings regarding the company’s assets on 1 January 2020. Dr Johannes Hancke from law firm LIESER Rechtsanwälte was appointed as administrator. He will be supported by his colleague Dr Alexander Jüchser. The sale was notarised by way of an asset deal immediately after the insolvency proceedings were opened. Prior to this, Guala Closures Group had prevailed against numerous competitors in a structured tendering procedure. The previously submitted purchase offer of Guala Closures Group was, with the approval of the appointed trustee, accepted by Closurelogic GmbH. The transaction is scheduled to be completed by the end of the first half of 2020.

Closurelogic GmbH, founded in 1958, is one of the largest suppliers of aluminium beverage closures for non-alcoholic and alcoholic beverages in the European market. The DLA Piper team was led by the partner Mike Danielewsky, and comprised counsel Oliver Otto and senior associate Dr Martin Kaltwasser (all Restructuring, Frankfurt). The team also included partners Dr Benjamin Parameswaran (Corporate/M&A, Hamburg), Christian Lonquich (Real Estate), Semin O (Antitrust), Dr Burkhard Führmeyer (Intellectual Property & Technology), Dr Marco Arteaga (Pensions), Dr Marie-Theres Rämer (Tax, all Frankfurt), Sylvia Ebersberger (IT/Commercial, Munich) und Dr Henriette Norda (Employment, Hamburg), counsel Dr Thilo Streit (Regulatory, Cologne), senior associates Dr Philipp Clemens (Corporate/M&A, Hamburg), Carla Nicolai (Real Estate), Miray Kavruk (IPT, both Frankfurt) and Dr Gregor Schroll (Antitrust, Cologne), associates Sophie von Mandelsloh (Corporate/M&A, Hamburg), Sascha Ryssok (Real Estate), Eda Altintas (Tax, all Frankfurt), Jonathan Tobler, Jonas Hermann Brunnbauer (both IT/Commercial, Munich), Nina Oldehaver (Employment, Hamburg) and Isabel Lang (Regulatory, Cologne) as well as Tamara Schwenk (Legal Project Manager, Frankfurt).

The Guala Closures Group teamwas led by Stefano Picchiotti, Group General Counsel.