Deutsche Bank's connections with Danone, the French foods manufacturer, helped it win the advisory mandate for BC Partners' €1bn ($879m) leveraged buy-out of Danone's Italian cheese and ham business.

Deutsche is co-advising BC Partners, the European private equity house, alongside BNP Paribas on the purchase of Danone's Galbani business. It is Europe's largest leverged buy-out in the food industry since United Biscuits of the UK was taken private in 2000 for £1.3bn (€2.1bn). The deal is also Italy's third-largest LBO.