The cross-border deal "represents a key milestone" for a Ridley business segment
Clayton Utz has aided ASX lister Ridley Corporation Limited (Ridley) on its recent agreement to acquire Oceania Meat Processors NZ LP (OMP).
The cross-border deal has been valued at $52.4m (NZ$57m), and is slated for completion in March 2024.
“The acquisition of OMP represents a key milestone for Ridley’s ingredient recovery business in the delivery of its FY23-25 growth plan,” said Quinton Hildebrand, Ridley’s managing director and CEO, in an ASX press release. “The acquisition also significantly increases Ridley’s capacity to service the domestic and international pet food industry.”
The advisory team from Clayton Utz was led by corporate partner Michael Linehan. His team included partners Jerome Martin (real estate) and Damien Gardiner (environment and sustainable development); senior associates Patricia Hill (corporate, M&A & capital markets), Huimin Seetoh (real estate) and Annabelle Lesage (workplace relations, employment and safety); and lawyers Peter Nikitas, Nicholas Cousins, and Michelle Pawluck (corporate, M&A and capital markets), Justine Sammut (real estate), and Venetia Stewart (environment and sustainable development).
OMP was launched in 2002 and is a supplier of raw materials to the global pet food industry. The company operates in New Zealand and Australia.
