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Aussie network bolsters growth with key acquisition

Aussie network bolsters growth with key acquisition

Paul Schmidt Uili

Two firms have advised on a transaction which saw a large Australian network acquire a Geelong-based wool manufacturer and retailer.

Firms: DibbsBarker (Australian Wool Network); Sladen Legal (Hedrena Textiles)

Deal: Australian Wool Network has acquired Hedrena Textiles.

Value: Undisclosed

Area: M&A, property, employment

Key players: The team advising Australian Wool Network was led by DibbsBarker corporate and commercial partner Paul Schmidt-Uili (pictured), with assistance from senior associate Simone Collignon and associate Jennifer Bruns.

The DibbsBarker property team advising on the matter was led by partner David Sharpe, associate Alexandra Henderson and lawyer Stephanie Schiller.

The DibbsBarker employment team advising on the matter was led by partner Maree Skinner, with assistance from associate Libby Radjenovic.

Deal significance: Hedrena Textiles is a Geelong-based wool manufacturer and retailer.

As part of the acquisition, Australian Wool Network (AWN) implemented a dividend reinvestment plan reflective of its intention to continue to grow through investments in complementary and strategically significant businesses.

It is the latest in a series of recent acquisitions for AWN which include the Launceston-based private wool buyer and contractor, Conn Wool, the South Australia-based Adelaide Wool North business and the Victoria-based business, South West Wools.

These acquisitions are part of a targeted growth strategy for AWN, which now has numerous Australia-based manufacturing facilities, and retail fashion brands and retail outlets across three states.

“We have thoroughly enjoyed working closely with managing director John Colley and the other members of the AWN executive team on numerous transactions in recent months, including this latest acquisition of Hedrena Textiles,” DibbsBarker corporate and commercial partner Paul Schmidt-Uili said.

“AWN is on an exciting growth trajectory and we are pleased to be supporting them through such an important time for the business.”

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