In addition to access to a distribution network in China, the deal includes a $20.25m investment
.jpg)
KPMG Law and Piper Alderman have acted in a deal that lets an ASX-listed juice and vegetable products maker tap the Chinese market.
KPMG Law, with a team led by director Hoda Nahlous, advised Careline Australia and its CEO Dr Norman Li, who have agreed to invest in The Food Revolution Group. Food Revolution was advised by Piper Alderman with a team led by principal James Macdonald, who was supported by associate James Hill.
The deal gives Food Revolution access to Careline’s extensive product distribution network in China. Via a staged issue and conversion of up to 280 million performance shares in the company, Careline is incentivised to increase the juice maker’s turnover from $35m to up to $500m, Piper Alderman said.
The investors led by Careline and Li will also invest $20.25m into Food Revolution to fund the development of distribution networks of the company’s products in China.
Bill Nikolovski, Food Revolution executive chairman, said that the partnership is a “huge opportunity” and that entering the Chinese market was a long-term goal for the company.
Macdonald said that Piper Alderman and Norton Gledhill, which it merged with last year, have had a long-standing relationship with Food Revolution.
