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Big Law

Woolies sells Masters hardware business

Baker McKenzie has advised on the acquisition of Woolworths’ Masters hardware business.

October 17, 2017 • By Emma Musgrave
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Acquisition, Baker McKenzie, Woolworths' Master Hardware
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Firm: Baker McKenzie (Home Investment Consortium); Undisclosed (Woolworths)

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Deal: Home Investment Consortium has acquired the Masters hardware business from Woolworths.

 
 

Value: Undisclosed

Area: M&A

Key players: Baker McKenzie head of Asia-Pacific capital markets group transaction David Holland led the transaction, with assistance from David Jones, Gabriella Plummer, Les Gray, Tatjana Giutronich and Katie Barnes.

Deal significance: According to a statement from Baker McKenzie, this transaction saw the firm act for the Home Investment Consortium, led by the firm’s client Aurrum, also comprising the Spotlight Group and Chemist Warehouse among others, in acquiring the Masters hardware business from Woolworths.

The Masters retail business has been wound down, leaving 42 Masters freehold sites and 19 leasehold sites, the firm said.

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“We were delighted to act for our long-standing client Aurrum, as part of the Home Consortium, in acquiring the Masters hardware business,” said lead partner David Holland.

“This was a challenging and complex deal with many players and simultaneous moving parts.

“The future plans for the Masters’ sites are now able to take shape and offer consumers a completely new retail experience.”

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Emma Musgrave

Emma Musgrave

Author

Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.

Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences. 

Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.

She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University. 

Email Emma on: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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