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Aus firms slips in to NZ lingerie deal
Lingerie maker Bendon Group has bought three new brands from Australia's Gazal Corp in a deal lead by legal advisers Johnson Winter & Slattery and Hardings Lawyers.
The New Lawyer
LINGERIE maker Bendon Group has bought three new brands from Australia's Gazal Corp in a deal lead by legal advisers Johnson Winter & Slattery and Hardings Lawyers.
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Johnson Winter & Slattery advised ASX-listed clothing wholesaler and retailer Gazal on the sale of its underwear brands Lovable, Davenport, Kissed By Lovable, Crystelle and Fineform to Bendon Limited, a New Zealand-based lingerie company.
Hardings Lawyers advised Bendon the deal, lead by Michael Treeby.
The price was not disclosed, and according the Gazal the divested assets are not expected to impact the 2012 earnings.
The deal is the latest in a string of transactions JWS has acted on since 2005. It follows the sale of Gazal's Mambo brand to Equity and Capital Finance Australia in 2008, and the sale of Gazal’s Brands United outlet stores to Pacific Brands earlier this year.
JWS Partner Bowley managed the sale of the underwear brands for Gazal in a deal that will see Lovable brand ambassador Jennifer Hawkins now provide her services to Bendon Limited as the new owner of that business. Bendon was represented in the transaction by Michael Treeby of Hardings Lawyers.
