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Freehills adds zest to juice deal

Freehills adds zest to juice deal

DairyWest, a company owned by funds managed or advised by private equity house Archer Capital, in association with minority shareholder Industry Funds Management, has completed the acquisition…

DairyWest, a company owned by funds managed or advised by private equity house Archer Capital, in association with minority shareholder Industry Funds Management, has completed the acquisition of WA-based Brownes fresh dairy and fruit juice business.

Freehills advised Archer Capital on its negotiations with Fonterra, advised by Minter Ellison, for the acquisition of Brownes and the debt financing of the acquisition.

The Freehills team was led by partner Damien Hazard, working with partners Louise Capon, Philip Podzebenko, Kristin Stammer, and Paul Hughes, senior associates Amalia Stone, Kate Logan and solicitor Claudia Adams on corporate aspects of the transaction. Partners Hayley Neilson and Emma de Carle along with senior associate Marnie Fels and solicitor Natasha Skinner advised on the debt financing aspects of the transaction.

The acquisition of Brownes dairy and juice businesses continues Freehills' role in advising Archer Capital on its asset portfolio. Freehills also recently acted for Archer Capital in relation to its acquisitions of Ausfuel and Gull Petroleum.

"Bringing a complex production asset out of a large corporate group like Fonterra can be a complex and challenging task" said Hazard. "The deal has been both long-running and contractually intensive. It is a testament to the commercial and operational expertise of the Archer team that they've been able to bring the deal to a close, and we are very pleased to have been able to support them in that process."

Corrs Chambers Westgarth acted for the financiers.

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