HelloFresh Successfully Closes Initial Public Offering

November 6, 2017

S&C client HelloFresh SE, headquartered in Berlin, Germany, successfully closed its initial public offering, resulting in gross process for HelloFresh SE of €276 million (approximately $322 million).
HelloFresh SE was founded in 2011. With operations in 10 countries across three continents (including the United States), HelloFresh SE has, by its own estimate, grown to become the largest player globally in the meal kit market.
The transaction consisted of public offerings in Germany and Luxembourg and private placements to institutional investors in other jurisdictions, including the United States in reliance on Rule 144A and related to newly issued shares in HelloFresh SE. As part of the offering, all of HelloFresh SE's shares have been admitted to trading on the regulated market of the Frankfurt Stock Exchange (Prime Standard).
The S&C Frankfurt-based team, which provided German and U.S. legal advice to the issuer, was led by Carsten Berrar and Krystian Czerniecki, along with Clemens Rechberger, Lars Rueve, Veronika Montes and Alexander Koch. David Simins advised on U.S. tax matters. Philipp Kloeckner advised on certain corporate and securities law matters.