An “unusually complex” structure defined Tupperware Brands Corporation’s acquisition of Nutrimetics for Baker & McKenzie’s lead partner on the deal, Ben McLaughlin.
Baker & McKenzie advised Tupperware on the transaction, which saw it purchase the leading Australian and New Zealand skin care company from Sara Lee, which was advised by Allens Arthur Robinson. The complexity was mainly due to a variety of tax and stamp duty reasons, McLaughlin said.
The acquisition included both shares and real estate, which led to complicated GST and stamp duty issues.
McLaughlin and Guy Sanderson co-led the Baker & McKenzie team on the deal, and worked closely with the firm’s Chicago office on the transaction. Nick Slack, an associate in the Sydney office, led the financial side of the acquisition, which was funded by the Bank of America.
McLaughlin said the transaction was intense and required liaison with a number of law firms in multiple jurisdictions, including Melbourne, Chicago and New York. McLaughlin said Allens did a “terrific job” acting for the seller and commended its lawyers, Tony Pyman and Karin Clark, for being “very fair and very helpful”.