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MBG makes sweet acquisition in time for ANZAC day

Modern Banking Group has acquired the manufacturer of the iconic ANZAC biscuit with the help of lawyers from Cornwall Stodart and Madgwicks._x000D_

March 23, 2012 • By Digital

Firms: Cornwall Stodart (Modern Banking Group), Madgwicks (Unibic Australia Pty Ltd - administrators appointed)

Deal: Modern Baking Group acquires biscuit business from Unibic Australia Pty Ltd

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Area: M&A

Value: Undisclosed

Key players: Partners Gid Meltzer and Lev Shevki led the Cornwall Stodart team

Deal significance: Unibic Australia Pty Ltd is the fourth largest biscuit manufacturer in Australia and the manufacturer of the iconic ANZAC biscuits. The Modern Baking Group has been able to effect a continuation of the business, securing the employment of 170 employees and getting production back online in time for Anzac Day.

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