Baker McKenzie successfully acted for the Home Investment Consortium, led by the firm's client Aurrum, also comprising the Spotlight Group and Chemist Warehouse amongst others, in acquiring the Masters Hardware business from Woolworths. The Masters retail business has been wound down, leaving 42 Masters freehold sites and 19 leasehold sites.
Baker McKenzie's Head of Asia Pacific Capital Markets group and lead partner on the transaction, David Holland, stated: "We were delighted to act for our long standing client Aurrum, as part of the Home Consortium, in acquiring the Masters Hardware business. This was a challenging and complex deal with many players and simultaneous moving parts. The future plans for the Masters' sites are now able to take shape and offer consumers a completely new retail experience."
Aurrum is known as one of Australia’s leading residential aged care providers with a portfolio of approximately 1,000 operating and development places in Victoria and New South Wales.
David was assisted by a Baker McKenzie team comprising: David Jones, Gabriella Plummer, Les Gray, Tatjana Giutronich and Katie Barnes.
This week, Acritas’ eighth annual Global Elite Law Firm Brand Index revealed Baker McKenzie extending its lead at the top of the table for another year. Acritas’ Global Elite Law Firm Brand Index 2017 is compiled from analysis of an extract of data from the Sharplegal Global Elite survey dataset. All data is derived from 1,074 interviews with respondents, in $1 billion+ revenue organisations across the world, who have senior responsibility for buying legal services.