$34m acquisition of Dunlop Flooring underway
A UK company has been advised on its impending acquisition of Australian underlay and hardwood flooring manufacturer Dunlop Flooring.
Firms: Clayton Utz (Victoria PLC); Herbert Smith Freehills (Pacific Brands Limited)
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Deal: Victoria PLC has been advised on its proposed $34 million acquisition of Dunlop Flooring from Pacific Brands Limited.
Value: $34 million
Key players: The legal team advising Victoria PLC is being advised by Clayton Utz partner Michael Linehan (pictured) and senior associate Quentin Reidy.
Deal significance: This transaction was announced to the market last month and is expected to be completed by March 2017, subject to customary conditions precedent.
It is the latest strategic acquisition by Victoria PLC of an Australian-based business, with the company acquiring Quest Carpet in 2015.
Clayton Utz partner Michael Linehan and senior associate Quentin Reidy also advised Victoria PLC on that transaction, which Victoria PLC chairman Geoff Wilding said had contributed materially to the company's "outstanding" performance in the Australian market.
Mr Linehan said Clayton Utz was pleased to have the opportunity to work with Victoria PLC on another important and strategic acquisition as it expands its Australian footprint.