COOPER GRACE Ward (CGW) and Deacons advised on Queensland-based Freedom Fuel’s acquisition of 16 sites in Victoria from Horizon Petroleum.
Deacons acted for Horizon Petroleum.
“We completed significant due diligence and documentation for the transaction, dealing individually with each of the 16 sites within the overall business framework,” said CGW’s lead partner on the deal, David Grace.
Freedom Fuels has service stations in Brisbane and South East Queensland and northern NSW, and the acquisitions in Victoria will take their total number to more than 50.
As well as retail fuel sales, Freedom also has a wholesale bulk fuel distribution business that supplies fuel across south-east and south-west Queensland.
The directors of the company said they intended to “become a major player” in the Victorian market.
Grace was supported by associate Nicole Finocchiaro, as well as Kaori Kano and Liam Young. Freedom director Matthew Morland said CGW understood the “big picture for our business while taking care of the finer details”.