Baker & McKenzie Advises on Proposed Sale of a Controlling Stake in Manassen Foods to China's Bright Food Group
Deal Announcement
2 September 2011
Sydney, Australia, 2 September 2011 – Baker & McKenzie is advising the shareholders of Manassen Foods, including CHAMP Private Equity and Roy Manassen, in connection with the proposed sale of Manassen Foods to China's Bright Food Group.
Manassen Foods is Australia’s leading independent grocery importer and a one-stop-shop solution for brand owners.
Bright Food Group is a key player in China's food industry – it is China’s third-largest dairy company and the eighth-largest packaged-food maker by sales, just ahead of Mars Inc. and Nestlé.
Baker & McKenzie Corporate partners Simon De Young and Mark McNamara led the transaction.
Speaking about the transaction, Baker & McKenzie partner Simon De Young said, "Baker & McKenzie is delighted to be assisting the shareholders of Manassen Foods in connection with this important transaction. Baker & McKenzie has assisted Manassen Foods in implementing a series of acquisitions since 2006 (when CHAMP Private Equity bought into the business), including the acquisitions of the Sunbeam Foods Group, Bob & Pete's, Calendar Cheese, Simon Johnson Purveyor of Quality Foods and numerous other brands."
Baker & McKenzie partner Mark McNamara added, "We are delighted to have assisted CHAMP Private Equity, Roy Manassen and the other stakeholders in this disposal process. We advised CHAMP Private Equity when it first bought into the business and it is very gratifying to have been engaged on another milestone transaction for the group. All of the stakeholders in Manassen Foods have done an outstanding job in growing the business over the last five years and we look forward to continuing out relationship with the business and its new stakeholder group."
This transaction represents another in a series of noteworthy private equity mandates for the Baker & McKenzie team, including:
- Acting for CHAMP Ventures on the sale of Healthecare Australia;
- Acting for KKR on its bid for MYOB;
- Acting for the stakeholders of V8 Supercars on their partial sale to Archer Capital; and
- Acting for TDR Capital on its acquisition of Ausco.
Blake Dawson advised Bright Food Group.