Deal: Gilbert + Tobin has advised Pacific Equity Partners on its sale of flour and bakery products manufacturer, Allied Pinnacle.

Value: Undisclosed

Area: Real estate, Commercial

Key players: Gilbert + Tobin’s M&A partner Hiroshi Narushima led the team, with support from lawyers Ilona Hunnisett and Oliver Yee.

Ashurst's team was led by partner Natsuko Ogawa, with support from senior associate James Brownstein and associates Shojeeb Alam, Shiho Asai, Genichiro Ito, James McGhie and Stephen Moore. 

Ashurst's team also included partners Matthew Bubb, Rehana Box, Richard Brooks, Emma Butler, Adam Firth, Andrew Harpur, Jane Harvey, David Jardine, Justin Jones, Ian Kellock, Amanda Ludlow, Jeff Lynn, Geoff Mann, Lionel Meehan and Kellech Smith alongside counsel, senior associates, and associates.   

Deal significance: Allied Pinnacle is Australia’s leading flour, ingredients and bakery products manufacturer, according to Gilbert + Tobin, and engages more than 1,300 employees across 14 manufacturing sites.

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Pacific Equity Partners is an Australasian private equity investment firm that leverages buyout and growth capital transactions.

Gilbert + Tobin said it worked closely with Pacific Equity Partners and management over the course of the company’s ownership of Allied Pinnacle, culminating in the running of a global sale process.

The firm worked on advising of structuring and bidder engagement, the coordinating of due diligence, as well as negotiating transaction documents signed late February.

Nisshin Seifun Group is a Tokyo-based company, with subsidiaries that include Nisshin Flour Milling and Nisshin Foods Inc,.

Gilbert + Tobin’s partner Hiroshi Narushima said they had worked closely with Pacific Equity Partners and management since the equity investor originally acquired the Pinnacle business.

“We have seen the Allied Pinnacle business evolve through innovation initiatives and acquisitions into adjacent products to become the leading Australasian flour and baked products manufacturer,” he noted.

“We are pleased to have advised PEP and management on this significant transaction.”

For Ashurst partner Natsuko Ogawa, the firm was "delighted to have assisted Nisshin with its first acquisition in Australia".

"Both Nisshin and Allied Pinnacle are leading companies committed to innovation and quality, and we look forward to seeing delicious products from their collaboration on supermarket shelves, cafes and convenience stores in Australia over the coming years," she continued. 

"This is a great example of the continued interest we are seeing from Japanese companies in investing in a broad range of industry sectors in the Australian market, which bodes well for the future of the Australia-Japan relationship."