Client: Sofiiska Banitsa Founder 1
- Leading producer of traditional Bulgarian pastry products operating a retail network of 5 own and 6 franchise stores across the capital city of Sofia
- In addition to its retail network, the company sells its products for home/office delivery directly to end consumers through its online store, as well as through the major modern trade retailers in Sofia
Situation Overview & Solution
- Sofiisa Banitsa was under the joint control of its founders for years but had reached a point where they had deeply divergent views on how the business should develop going forward
- The difference in strategic thinking ultimately resulted in operational issues and the founders decided to part ways through a buy-out
- The founder who took the leading role in the buy-out process hired Entrea Capital to structure the transaction and negotiate its terms
- In addition to negotiating the transaction, Entrea Capital was mandated to arrange financing
Entrea Capital's Role and Value Added
Entrea Capital provided the following value-added services to the remaining founder of Sofiiska Banitsa:
- Structured the transaction
- Negotiated the key terms that underpinned the non-binding offer and the definitive transaction documents
- Coordinated the work of various professional advisers involved in the process (appraisers, tax consultant, legal consultants, etc.)
- Approached a number of financing banks and facilitated their due diligence process
- Supported the client in the fulfilment of debt pre-drawdown conditions
- Provided continuous support to the founder throughout the whole process
