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Global company says ciao to WA firm

Global company says ciao to WA firm

The Australian arm of the giant Italian global dairy producer Parmalat SpA has purchased a WA firm.

Firms: Minter Ellison (Parmalat Australia Pty Ltd); Williams + Hughes (Harvey Food and Beverages Limited) and C L Barrett-Lennard (Harvey Fresh)

Deal: Parmalat Australia acquires Harvey Fresh

Value: €79 million

Area: M&A

Key Players: Minters had a large team work on the transaction. Brisbane-based corporate partner Franki Ganter (pictured) led the team with senior associate Steven Grant. Partners Justin Oliver and John Prevost were also involved, with assistance provided by consultant David Stevens, special counsels Cathy Hume, Luke Walker and Nada Raphael. Senior Associate Bee Ang and Tarryn Loftus were also involved. Harvey Fresh used WA firms Williams + Hughes and C L Barrett-Lennard. David Williams and Clare Barrett-Lenard were the lead advisers from those two firms respectively

Deal Significance: Harvey Fresh, Western Australia’s second largest dairy producer, also produces fruit juice. Parmalat SpA produces a range of dairy products and fruit juices, with its annual turnover exceeding $5 billion. In Australia, Pauls and Oak are two of its biggest brands. “We drew on resources in our Brisbane, Sydney and Perth offices to help achieve this successful outcome for a long-standing client," said Franki Ganter. Just last week Deutsche Bank settled court action with a former banker who alleged he was owed over €6 million by the bank. The banker was accused of derivative fraud in Italy after Parmalat collapsed in 2003, making it Europe’s biggest bankruptcy at the time.

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