Sale of Mainland Poultry to Navis Capital
Sale of Mainland Poultry to Navis Capital - MinterEllisonRuddWatts advises
Shareholders of New Zealand's biggest egg producer Mainland Poultry, have reached an agreement to sell to Private Equity firm Navis Capital.
MinterEllisonRuddWatts was lead advisor to Mainland Poultry along with ANZ Corporate Finance from Australia.
While the deal remains subject to Overseas Investment Office (OIO) approval, it is a significant transaction for the countries agricultural and FMCG industry.
Under the agreement founding shareholders of Mainland Poultry will keep a significant shareholding in the business and senior managers will be retained. Partners Cathy Quinn ONZM and Silvana Schenone led the firm’s corporate deal team, and are delighted to have played an instrumental part in brokering such a significant deal.
"Our market leading corporate practice demonstrated its responsiveness to client needs by working around the clock to get the deal done, while keeping our client’s interests front of mind. It was great to get the deal signed in our Boardroom in the early hours of Saturday morning," said Cathy Quinn ONZM.
Silvana Schenone said: "The way the deal was run was complex due to multiple bidders and we had to apply some creative thinking to ensure the best outcome for Mainland Poultry. The interest in Mainland Poultry and the agreement reached highlights the international appeal of New Zealand’s thriving and highly regarded agriculture sector."