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Carpet company sells for $35m

Carpet company sells for $35m

Michael Linehan

Two firms have advised on UK-based international carpet business Victoria PLC’s acquisition of Quest Carpet in Australia.

Firms: Clayton Utz (Victoria PLC); Sladen Legal (Quest Carpet Manufacturers Pty Ltd)

Deal: Victoria PLC acquired Quest Carpet.

Value: $35 million

Area: M&A

Key Players: Michael Linehan (pictured) led Clayton Utz’s team and was joined by senior associate Quentin Reidy and lawyer Kate Allison. Meagan O’Connor led Sladen Legal’s team.

Deal Significance:

UK-based international carpet business Victoria PLC manufactures, supplies and distributes design-led carpets and floor coverings.

Melbourne-based Australian business Quest designs, sells and distributes premium-quality carpets across Australia and New Zealand.

In the $35 million deal, Victoria PLC will acquire all of the issued share capital in Quest Carpet Manufacturers Pty Limited and all of the issued units in the Quest Carpet Manufacturers Unit Trust.

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