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Firm acts on $8.5m vegetable deal

Firm acts on $8.5m vegetable deal

A Brisbane law firm has advised on a $8.5 million vegetable wholesaler deal.

Hopgood Ganim has advised fruit and vegetable wholesaler Simon George & Sons on the acquisition of NSW business George's Providores for $8.5 million.

The deal includes an option for Simon George & Sons to buy land owned by George's Providores for $16.5 million.

According to Hopgood Ganim Business Services partner Luke Mountford, the deal was initiated in 2009, and although the discussions between the parties started some time ago, the negotiation, execution and settlement of the contract took place within the space of just over a month.

“Simon George & Sons saw a lot of potential in amalgamating their existing NSW business with George's Providores, and needed the purchase to be executed as quickly and efficiently as possible,” he said.

“The size of the transaction, combined with the speed in which it was executed, made this an interesting matter to advise on.

“The fact that Simon George & Sons was able to execute a multi-million dollar deal in this economy is testament to their strong market position in what can be a tough industry,” he said.

Mountford noted that a team of lawyers from across the firm advised on the deal, including lawyers from the firm's Business Services, Property, Leasing and Employment Law teams.

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