FREEHILLS HAS won another deal thanks to its relationship with retailer of electrical appliances Clive Peeters Ltd. The company has just announced the acquisition of seven stores in Queensland, via which it anticipates it will generate a turnover of $50 million a year.
Freehills was chosen by Clive Peeters Ltd to advise on the acquisition of the stores, which previously traded under the banner of Ian Everard’s Betta Electrical. This transaction represents the sixth acquisition to be announced since Clive Peeters was listed.
The Freehills team was led by partner Andrew Clyne who was assisted by Genevieve Levinson.
Clyne said: “We are proud of the strong relationship we have had with Clive Peeters since we advised on the initial public offering in 2005 and we are pleased to have worked with Clive Peeters on this acquisition which is integral to extending its presence within Queensland.”
The acquisition is expected to provide Clive Peeters with a strong presence in Northern Queensland while also strengthening its market position in South East Queensland. The Ian Everard’s Betta Electrical acquisition brings the number of Clive Peeters stores in Queensland to 12.
Clive Peeters is a high-profile retailer of electrical appliances which started in Victoria, and since listing in 2005 has made a number of acquisitions and has opened stores broadening its presence to Western Australia, New South Wales and Queensland as well as Victoria.