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MBG makes sweet acquisition in time for ANZAC day

MBG makes sweet acquisition in time for ANZAC day

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Modern Banking Group has acquired the manufacturer of the iconic ANZAC biscuit with the help of lawyers from Cornwall Stodart and Madgwicks._x000D_

Firms: Cornwall Stodart (Modern Banking Group), Madgwicks (Unibic Australia Pty Ltd - administrators appointed)

Deal: Modern Baking Group acquires biscuit business from Unibic Australia Pty Ltd

Area: M&A

Value: Undisclosed

Key players: Partners Gid Meltzer and Lev Shevki led the Cornwall Stodart team

Deal significance: Unibic Australia Pty Ltd is the fourth largest biscuit manufacturer in Australia and the manufacturer of the iconic ANZAC biscuits. The Modern Baking Group has been able to effect a continuation of the business, securing the employment of 170 employees and getting production back online in time for Anzac Day.

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