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Racehorse breeding farm changes hands
Two national firms have finalised the sale of a thoroughbred stud farm in Victoria to a US buyer.
Felicity Nelson
Firms: M+K Lawyers (Yallambee Stud); Clayton Utz (Spendthrift Farm)
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Deal: Spendthrift Farm acquired Yallambee Stud, Victoria.
Value: Undisclosed
Area: M&A
Key players: The M+K team was led by principal Craig Finlayson (pictured) and lawyer Sarah Ward. The Clayton Utz team was led by partner Simon Truscott (Sydney) and senior associate Alison Kennedy (Melbourne).
Deal significance:
Major Kentucky-based thoroughbred racehorse breeding stud, Spendthrift Farm, has acquired Yallambee Stud, Victoria, as a new venture named Spendthrift Australia. It is part of Spendthrift's decision to establish a stallion headquarters in the Southern Hemisphere following its success in the United States with its breeder-friendly stallion program.
Craig Finlayson, principal at M+K commented, "Three generations of the Woodard family have operated the very successful Yallambee Stud for over 50 years and it was a pleasure helping the Woodard family secure a successful sale.”
