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Clutz takes lead role on $42 million Myer deal
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Clutz takes lead role on $42 million Myer deal

Clayton Utz has announced it is working alongside Myer Holdings Limited on its acquisition, announced this week, of a 65 per cent stake in sass & bide, one of Australia's best known fashion…

Clayton Utz has announced it is working alongside Myer Holdings Limited on its acquisition, announced this week, of a 65 per cent stake in sass & bide, one of Australia's best known fashion labels, worth $42.25 million.

Melbourne corporate partner Brendan Groves led the Clayton Utz team advising on the deal, which gives Myer exclusive department store rights to distribute the sass & bide brand.

Other Clayton Utz team members included John Brewster, Sachi Haga, Sue Williamson and Ada Lam.

The sass & bide acquisition is the first for Myer since listing on the ASX last year and is expected to be completed in April.

"The acquisition of a stake in sass & bide is an exciting step for Myer and reflects its focus on strategic growth," said Groves. "We're proud to have been part of such an iconic deal."

Arnold Bloch Liebler acted for sass & bide.

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