Allens advises PEP on acquisition of Allied Mills
3 February 2017
Allens has advised Pacific Equity Partners (PEP) on their agreement to acquire Allied Mills, Australia's leading manufacturer of flour, bakery premixes and speciality frozen par-baked bread products.
The business will be integrated with PEP's Pinnacle Bakery and Integrated Ingredients (Pinnacle) business. Pinnacle has a leading position in the sweet bakery products and bakery ingredients market, manufacturing and distributing finished and unbaked goods such as cakes, pastries, cookies, muffins and donuts, as well as bakery ingredients such as fillings and fondants.
PEP is the largest PE fund in Australia and New Zealand. PEP Fund V has more than A$2 billion equity funds under management.
Commenting on the transaction, lead partner Tom Story said the deal enables PEP to combine Pinnacle and Allied Mills as complementary businesses operating in truly adjacent categories.
'The transaction provides PEP with an opportunity to continue its proven track record of successfully investing in consumer product businesses, having owned and expanded businesses including Peter's Ice Cream, Tegal, Griffins Foods, Manuka Health and Frucor Beverages.'
'The sale requires regulatory approvals and is expected to close within two to three months,' Tom said.
|Allens legal team||Corporate: Tom Story, Partner; Vijay Cugati, Partner; Apoorva Suryaprakash, Senior Associate; and Alistair Stolz, Associate.
Competition: Jacqui Downes, Partner; Sophie Matthiesson, Associate.
- Germaine GrahamSenior Corporate Communications Manager,
Ph: +61 2 9230 4639
Notes for editors.
Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 40 offices in 28 countries around the world.