Freehills is advising Metcash Trading Limited on its $215 million acquisition of Interfrank Group Holdings Pty Ltd, which owns the Franklins business, including 85 supermarkets in New South Wales.
The acquisition is expected to be completed by 30 September 2010 and is conditional upon receipt of approval from the Australian Competition and Consumer Commission.
According to Freehills, Metcash has indicated a proposal to sell the Franklins stores to independent IGA retailers.
The Freehills team was led by M&A partners Martin Shakinovsky and Andrew Rich, with support from senior associate Ben Dennell.
Freehills also worked closely with Metcash's general counsel, Greg Watson.