Firms: Herbert Smith Freehills (Kokusai Pulp & Paper Co. Ltd); Undisclosed (Spicers Limited)
Deal: Kokusai Pulp & Paper Co. Ltd (KPP) has been advised on its proposed acquisition of Spicers Limited (Spicers), pursuant to a members’ scheme of arrangement.
Value: $90 million
Key players: The Herbert Smith Freehills team was led by Australia Japan Practice lead partner Ian Williams, with support from corporate partner Nick Baker and solicitors Joshua Santilli, Jenna Wong and Tatsuki Shiratsuchi.
Deal significance: KPP described as Japan’s second largest paper distribution company, while Spicers is a distribution business offering customers a full suite of products and services, incorporating commercial print, digital media, label and packaging, industrial packaging, sign and display consumables and hardware, and architectural offerings, according to a HSF statement.
“We are delighted to have assisted KPP on its first overseas acquisition, which is expected to make a significant contribution to its global expansion efforts and advance KPP’s standing in the Australian and New Zealand markets,” partner Ian Williams said.
The deal is expected to be implemented in July 2019.