Binder Grösswang, as local counsel, advised PAI Partners, a pre-eminent private equity firm, on the acquisition of NovaTaste, formerly Savory Solutions Group, a global leader in taste innovation, from International Flavors & Fragrances (IFF).

NovaTaste provides a range of value-add savoury 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. The company employs over 1,800 employees across six business units worldwide, who are united by NovaTaste’s purpose - to revolutionise the way that the world experiences food.

Following the signing in December 2022, the transaction was completed with this week’s closing. The team led by M&A partner Thomas Schirmer (Corporate / M&A) and Christopher Marchel (Corporate / M&A) included: Mona Holzgruber (Corporate / M&A), Clemens Willvonseder, Christian Wimpissinger and Larissa Constanze Wagner (Tax), Ivo Rungg, Hellmut Buchroithner and Florian Defrancesco (Commercial / IP), Horst Lukanec, Sabine Apfl-Trompeter and Magdalena Schachinger (Employment), Markus Uitz and Yasmina Bouzid (Real Estate) and Anian Gruber (Regulatory).

The team of Willkie Farr & Gallagher LLP as international lead counsel included inter alia partner Axel Wahl and associates Maximilian Schatz and Maximilian Hirsch.

About Binder Grösswang

As one of the leading Austrian commercial law firms with a strong international focus, Binder Grösswang has been advising on all questions of commercial law for more than 60 years. Binder Grösswang employs more than 185 people in Vienna and Innsbruck. The law firm advises well-known national and international companies from all sectors.

International legal directories such as Juve, Chambers, The Legal500 and IFLR 1000 regularly award top ratings to Binder Grösswang in all practice areas. These honours include international prizes such as the Chambers Europe Austrian Law Firm of the Year Award and the IFLR European Law Firm of the Year Award.