Franklin advises César Augier on the acquisition of JAY & JOY.

Franklin advises César Augier on the acquisition before the courts of Jay & Joy, a pioneer and leader in France in the market for plant-based alternatives to cheese, and in relation to which a judicial reorganisation had been opened following a listeria crisis.

This acquisition, which is in line with vegan and green industry trends, was made by a partnership of the High Flyers Capital fund, Bpifrance and fifteen or so business angels including Cédric Meston and Guillaume Dubois, the two founders of HappyVore, a leader in the French market for plant-based alternatives to meat, Jean-Baptiste Rudelle, the founder of Criteo, and Charles-César d’Amat, the founder of Impact Business Angels. A fund of around €2 billion was raised specifically to make this acquisition.

The disposal plan relating to this transaction was ratified by a judgment of the Commercial Court of Paris handed down on 8 June 2023.

The acquisition vehicle is the new Jay & Joy company led by César Augier who will be supported by one of the most renowned and experienced experts in France on the subject of listeria and quality in production environments.

César Augier was advised by Franklin with a team comprising Arnaud Pédron, Partner, Margaux Chaumien and Emilie Gassier, Associates, for Restructuring / Distressed M&A matters.

JAY & JOY and its directors were advised by Laura Bavoux, lawyer

The responsible persons in the legal proceedings were: