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Adairs expands product offering with $80m acquisition
Herbert Smith Freehills (HSF) has advised a home furnishings giant on its acquisition of Focus on Furniture, in a deal worth $80 million.
Lauren Croft
Firm: Herbert Smith Freehills (Adairs).
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Deal: The HSF private M&A team has advised Adairs on its $80 million acquisition of Focus on Furniture.
Value: $80 million.
Area: M&A.
Key players: The Herbert Smith Freehills team was led by partner Andrew Clyne, senior associate Nicolas Lee and solicitors Shonie Kaushik and Katherine Duong. Partner Martin MacDonald, senior associate Melanie Chan and solicitor Gemma Pastellas also advised Adairs on the financing aspects.
The team was supported by a number of lawyers across its Australian offices, including co-head of venture capital (Australia) Elizabeth Henderson, partners Tim McEwen, Mark Clifton, Jacqueline Wootton and Anthony Wood, special counsel Crystal Sanders, senior associates Julia Orbach, Tess Mierendorff, Patrick Clark, Graeme Tanner, Jennifer Wong, and solicitors Samuel Gonski, Olivia Purcell, Greta Morand, Ling Zhu, Joseph Dean, Madeleine Ryan, Jessica Nashed, Lucy Halliday, Heather Di Pietro, Ashley Seah and Gila Segall.
Deal significance: Adairs’ acquisition of Focus on Furniture will allow the home furnishings omnichannel retailer to expand its product offering and exposure in the furniture and bedding retail industry.
Commenting on the deal, Mr Clyne said: “We were delighted to assist Adairs on its strategic acquisition of Focus on Furniture which will allow it to progress its vision of building the leading home furnishings group in Australia and New Zealand.”
