Hall & Wilcox advises Maggie Beer Holdings on $40 million acquisition of e-commerce company Hampers & Gifts Australia
Hall & Wilcox has advised Maggie Beer Holdings (ASX: MBH) on its $40 million acquisition of e-commerce company Hampers & Gifts Australia in a move that will further accelerate the Australian gourmet food products business’ growth in online sales.
Hall & Wilcox is acting for Maggie Beer Holdings on all aspects of the acquisition and also on the associated $30 million capital raising transaction, involving a placement and an underwritten accelerated non-renounceable entitlement offer, that will be used to fund the cash component of the purchase price.
Partner James Morvell led the Hall & Wilcox team, with senior associates James Bull and Vanessa Murphy leading key streams of the transaction. Lawyers David Holland, Alex Berry, Tamara Charlwood, Michael Henderson and Aron Mazur assisted on the corporate aspects of the deal. Partner Mark Dunphy and Lawyer Nhu-Thuy Dinh advised on the employment side of the transaction, and Partner Emily Kyriacou and Lawyer Chi Han Yeo provided guidance on the property aspects.
James Morvell said: ‘We are delighted to be assisting Maggie Beer Holdings on the purchase of Hampers & Gifts Australia as part of the company’s increased focus on e-commerce and direct-to-consumer sales. We are also pleased to be helping with the capital raising aspects of the transaction, and working with Bell Potter Securities in its capacity as lead manager and underwriter.’
In a statement released to the ASX, Maggie Beer Holdings CEO Chantale Millard said the transaction: ‘will help us transform the MBH Group and move it to its next level of growth and shareholder value.’
The acquisition comes at an opportune time. As reported in the Australian Financial Review and based on figures from Maggie Beer Holdings’ 2020 Annual Report, the company’s online sales increased by 167% during the December half of 2020-21, driven by the rise in stay-at-home consumption during the pandemic.
Hall & Wilcox is a leading independent Australian law firm of around 750 people, including more than 90 partners, delivering outstanding legal services to corporate, public sector and private clients, both Australian-based and those offshore doing business in Australia. Our Mergers & Acquisitions team is widely recognised for its in-depth awareness and appreciation of the value drivers and range of issues arising out of M&A transactions. The team won M&A Collaboration of the Year in the MergerMarket Australia M&A Awards 2020 and is listed in The Legal 500 Asia Pacific 2021.