In a circa $24m deal, Cornwalls acted for The Bean Alliance and its founder in the sale of its coffee roasting and supply business to the Massimo Zanetti Beverage Group (listed on the Milan stock exchange). The Bean Alliance is a leading coffee roaster and distributor in Australia and has held a strong position in the market for nearly 40 years with its head office based in Melbourne. The transaction has enabled Massimo Zanetti Beverage Group to strengthen its presence in Australia and acquire its own in-house manufacturing facility. The business will now trade under the name of Bean Alliance Group and the current management team, including the company’s founder, will continue to lead the group with the aim of ensuring ongoing success.
The transaction was led by Dean Katz, Partner in our Corporate & Commercial (M&A) team, together with John Hutchings (Chairman of Partners) and with great assistance from corporate M&A lawyers, Amy Giles and Emily Sahhar. The transaction cut across a number of areas, including commercial, property, employment, intellectual property, financing and securities. Property related matters were handled by Peter Window (Partner) and Liana Venditti (Senior Associate). Martin Alden (Partner) assisted with employment matters and Joel Masterson (Partner) handled intellectual property matters.
Bean Alliance Group Director & CEO, Ange Augello says “Cornwall Stodart’s combined professional talents & commitment has been outstanding to work with, they are a diligent advisory firm, often going “above and beyond”.” He adds “We have benefited from legal and commercial insights which lead to the positive closure of this complex negotiation.”
“Cornwall Stodart is excited for the company’s prospects and looks forward to working with the group in the future. We wish the Bean Alliance Group and MZBG all the best with the business in Australia” – Dean Katz
Thanks a latte to all involved in this deal!
Authors: Amy Giles, Dean Katz