Boehly steps down as chairman as part of the transition, while Hansjörg Wyss remains a stakeholder and partner in the ownership group. Clearlake, which has served as Chelsea’s majority owner since the 2022 takeover, said its focus now was to keep investing in the club, and stressed that its incoming full control would not disrupt the existing setup.

The deal establishes a standalone European food and beverage business under the private equity firm’s ownership. AURELIUS specialises in operationally complex situations, carve-outs, platform build-ups, and succession deals, and Hain International is the latest in a run of European businesses it has prised out of US-listed groups.

The Dell-led group prevailed over several large private equity firms in the contest for Baldwin. The transaction is co-led by DFO and Sequence Holdings, a venture capital-backed group that invests in the service economy and deploys its own engineers alongside management teams.

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