Holding Redlich acted for shareholders in the sale of Counterpoint Marketing and Sales to the Photon Group. Counterpoint was established in 1983 and employs more than 350 people.
It provides marketing, merchandising, space management, warehousing and brokerage services to grocery, pharmacy and discount department store retailers throughout Australia and its clients include manufacturers, suppliers and importers.
Brisbane partner Michael Byrom and senior associates Jacob Duane and Darren Pereira represented the key parties in the deal. Byrom said the deal itself was “reasonably straightforward” in terms of both Counterpoint and Photon’s requirements.
“There were really no complex legal or commercial issues,” he said. “There were some sticky issues about timing and what warranties would and wouldn’t be given, but it was no different to other transactions.”
The deal was completed in six weeks.