Global PE firm secures majority stake in local beverages business with major firms’ help

The investment lifts the drinks company's enterprise value to a range of $300m-$350m

Global PE firm secures majority stake in local beverages business with major firms’ help

Global PE firm TPG Capital has secured a majority stake in local beverages business Made Group with the help of teams from Gadens and Clifford Chance.

“This transaction is an exciting step for TPG and reflects the increasing focus of global private equity firms in the consumer sector,” Clifford Chance lead partner Jacob Kahwaji said.

Under the terms of the deal, TPG Capital acquires 60% of Made Group, which will become part of TPG Capital’s Asia fund. The investment lifts the enterprise value of Made Group to a range of $300m-$350m.

Gadens said that the plan is to scale Made Group, especially with regard to its Asia presence. The Made Group team will collaborate with the TPG Capital operations group in the former’s bid to expand in Asia, particularly in Thailand and South Korea.

Gadens advised Made Group founders Matthew Dennis and Luke Marget, while Clifford Chance guided TPG Capital. Prior to commencing work on this transaction, Gadens also assisted Dennis and Marget as minority stakeholders Coca-Cola Europacific Partners and The Coca-Cola Company relinquished their 45% interest in Made Group.

Partner Richard Partridge led a team composed of associate Edward Smith and lawyer Elizabeth Gregory. They advised on all aspects of the stake sale.

“Made Group is an independent Australian beverages manufacturer with forward thinking brands. The sale of shares to TPG is an exciting next chapter for the company, which targets sales growth and M&A.,” Gadens said.

Meanwhile, Kahwaji headed up Clifford Chance’s team alongside fellow corporate partner Andrew Crook. They received support from associates Aditya Ralhan and Alice Bradshaw, as well as trainee Christine Wang.

The products developed by Made Group include NutrientWater, Cocobella, Impressed and Rokeby Farms dairy. The company has also introduced its products to Singapore, Malaysia, Hong Kong and Japan.

“It has been great to work with Made Group and its founders again. The company brings unique health and wellness focussed products to the consumer market and I have no doubt that the business will continue to thrive," Partridge said.

Related stories

Free newsletter

Subscribe to our FREE newsletter service and we’ll keep you up-to-date with the latest breaking news, cutting edge opinion, and expert analysis affecting both your business and the industry as whole.

Please enter your email address below and click on Sign Up for daily newsletters from Australasian Lawyer.

Recent articles & video

Qantas legal head returns to JWS

SPB expands Perth partnership with shipping and commodities vet

Ashurst CEMEA corporate transactions head joins board

University of Sydney legal services director graduates to GC role

Landmark $500m build-to-rent project rises with Hall & Wilcox’s help

COVID-19 fosters increased trust between in-house teams and businesses

Most Read Articles

Patent and trademark vet named Spruson & Ferguson’s Australia managing director

MinterEllison partner to co-chair IBA’s COVID-19 Legal Policy Task Force

Ashurst helps pave the way for freeway’s $1.18bn upgrade

‘Lawyers and firms need to be nimble,’ McCabes principal says