Binder Groesswang, working with Willkie Farr & Gallagher, has advised PAI Partners on its acquisition of NovaTaste – formerly the Savory Solutions Group – from International Flavors & Fragrances. Cerha Hempel, working with Cleary Gottlieb, advised the seller.
PAI Partners is a private equity firm.
International Flavors & Fragrances is an American corporation that produces flavors, fragrances, and cosmetic actives, which it markets globally.
According to Binder Groesswang, “NovaTaste provides a range of value-added savory ingredients and blends to improve taste and texture and extend the shelf life of food products. It operates most notably under the Wiberg and Piasa brands. NovaTaste serves more than 11,000 customers, including food manufacturers, butchers, and food service players, across Europe, North America, and Asia.”
Binder Groesswang’s team included Partners Thomas Schirmer, Clemens Willvonseder, Christian Wimpissinger, Ivo Rungg, Horst Lukanec, and Markus Uitz, Counsel Hellmut Buchroithner, Attorneys at Law Mona Holzgruber, Sabine Apfl-Trompeter, and Anian Gruber, and Associates Christopher Marchel, Larissa Constanze Wagner, Florian Defrancesco, Magdalena Schachinger, and Yasmina Bouzid.
Cerha Hempel's team included Partners Clemens Hasenauer, Harald Stingl, Johannes Prinz, and Lorenz Pracht, Attorney at Law Tobias Tangl, and Associate Svitlana Kuzmenko.