find the latest legal job
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Adelaide CBD · Join a leading Adelaide commercial law firm
View details
Freelance Project Finance Lawyers
Category: Other | Location: All Australia
· Vario are looking for freelance lawyers with experience in project finance ideally within the renewable energy sector
View details
Vario Freelance Lawyers
Category: Construction Law | Location: All Australia
· We are looking for lawyers who appreciate the endless possibilities that a freelance career can offer.
View details
Freelance Construction Lawyers
Category: Construction Law | Location: All Melbourne VIC
· We are looking for construction lawyers who appreciate the endless possibilities that a freelance career can offer.
View details
Banking Associate - 1-6PQE - Allen & Overy
Category: Banking and Finance Law | Location: United Kingdom
· Banking Associate - 1-6 PQE - Allen & Overy
View details
Kraft Heinz snaps up food businesses

Kraft Heinz snaps up food businesses

A beverage and food company listed on the Tokyo Stock Exchange has sold off two businesses in its portfolio.

Firms: Clayton Utz (Suntory Beverage & Food Ltd); MinterEllison (The Kraft Heinz Company)

Deal: The Kraft Heinz Company (Kraft) has bought two businesses from Japanese company Suntory Beverage & Food Ltd (Suntory).

Value: $290 million

Area: M&A

Key players: The Clayton Utz team advising Suntory was led by partner Geoff Hoffman (pictured). He was assisted by solicitors Jack Steiner, Matt Bourke and Hannah Kimber.

Partner Bruce Lloyd and consultant Ian Reynolds advised on the competition law aspects.

Deal significance: Suntory’s sale of two businesses for total consideration of $290 million to Kraft is expected to finalise next year.

Subject to certain regulatory approvals, Kraft will acquire Cerebos Food & Instant Coffee (in Australia and New Zealand) and Asian Home Gourmet Singapore business by the first quarter of 2018.

Suntory, which is listed on the Tokyo Stock Exchange, said in a statement that the deal did not include the sale of its Australia/New Zealand business Cerebos Fresh Coffee. The Japanese company will continue to operate the business unit and focus on capturing a larger share of the fresh coffee market.

Terry Svenson, the CEO of Cerebos Australia/New Zealand, said the company was pleased with the transaction. He will lead the new Fresh Coffee business as its CEO.

“Food & Instant Coffee is not a core focus category for SBF and we believe this business can be maximised under different ownership,” Mr Seveson said.

“The Food & Instant Coffee business will now have opportunities to leverage Kraft Heinz’s operations to grow the business further.”

According to a statement released by both parties, Kraft Heinz Company is the fifth-largest food and beverage company in the world. Once the food businesses have been acquired by Kraft, Bruno Lino will lead the combination as CEO.

“Cerebos has a strong team that will play an important role in our future growth,” Mr Lino said.  

“This transaction reinforces our commitment and long-term plan to the Australia and New Zealand markets in addition to our significant investment in the Kraft brand for 2018. We will continue investing in our brands, factories and our employees to meet consumer needs and expectations,” he said.


Like this story? Read more:

Book commemorates diamond milestone for WA law society

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

Kraft Heinz snaps up food businesses
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Debate rises over Victorian judiciary attack
Jan 24 2018
Debate rises over Victorian judiciary attack
The Victorian Bar has become the latest to go on record condemning recent political attacks on the V...
Michelle Quigley QC
Jan 24 2018
Vic Barrister who helped stop major heritage redevelopment joins Supreme Court
Michelle Quigley QC, who assisted a coalition to oppose the redevelopment of St Heliers villa estate...
Building, construction
Jan 24 2018
Building finish for NSW coroner’s complex slated for early 2019
Efforts to relocate the state coroner’s facilities from Glebe to Lidcombe are on track, according ...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...