SLM Corporate is pleased to announce that it has advised on the sale of Classic Food Holdings Pty Ltd (“Classic Foods”) to Murray Goulburn Co-Operative Co Limited.
Based in Edith Creek in the north-west corner of Tasmania, Classic Foods was founded in 1989 and enjoyed significant growth by providing an independent contract packing service of Ultra Heat Treated food and beverage products for the Australian food industry. Classic Foods’ product range includes long life milk and milk based products such as custards, dairy desserts, ice cream mixes, pet milks, flavoured milks and modified milks designed to meet its wholesale food distribution customers’ specifications in their own branded packaging.
SLM Corporate advised the board and shareholders of Classic Foods on this transaction, and its role included:
• Valuing the company for investment/ sale;
• Preparing a detailed information memorandum;
• Identifying a number of potential buyers and receiving bids;
• Advising the company throughout the negotiations with the highest bidder, Murray Goulburn;
• Facilitating the due diligence process with Murray Goulburn’s specialist advisors;
• Reviewing all communications with the ACCC during its clearance process;
• Coordinating the overall transaction.
For further information, please contact SLM Corporate Pty Ltd:
Ph: 03 9244 9644