We acted for a leading European importer and wholesaler of wine in its acquisition of a specialist wine company.
The acquisition included the founders of the target retaining some shares and being subject to put and call share options on certain terms in respect of those shares after completion. The terms of the acquisition included detailed provisions for the adjustment of the price depending upon the performance of the target in respect of its sales of various categories of wine. The acquisition was successfully completed.
Subsequently, variations were agreed and put in place of the terms of the put and call options, and one of the founders later sold to our clients a further proportion of his shares in the target.