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.
