Clayton Utz advising Japan’s Suntory Beverage & Food on A$229m sale of fresh coffee business

A Clayton Utz team is advising Japan based Suntory Beverage & Food Limited (SBF) on the sale of its fresh coffee business in Australia, New Zealand and Singapore to the Japan-headquartered global coffee business UCC Holdings Co., Ltd (UCC). The transaction was announced on 10 February, and is expected to complete in the first half of 2022.

Sydney-based Corporate partner Geoff Hoffman is leading our team, which includes lawyers Megan Williams and Natasha Cutler. The transaction total consideration is approximately A$229 million, plus debt.

SBF’s fresh coffee business includes the specialty brands Toby’s Estate, L’affare, and Atomic and mainstream coffee brands including Robert Harris, and Mocopan, as well as a significant contract roasting operation servicing key accounts in the retail and convenience sector.

Commenting on the deal, Geoff said:

It reflects ongoing strong investor appetite for quality food and beverage businesses, continuing the trend for the past several years.

In 2017, Geoff and a team advised SBF on the sale of its Cerebos Food & Instant Coffee (in Australia and New Zealand) and Asian Home Gourmet Singapore businesses to Kraft-Heinz, for A$290 million.

/Public Release. This material from the originating organization/author(s) might be of the point-in-time nature, and edited for clarity, style and length. Mirage.News does not take institutional positions or sides, and all views, positions, and conclusions expressed herein are solely those of the author(s).