Telstra’s $110 Million Acquisition of ICT and Sprout Business from Vita Group

MinterEllison represented Vita Group Limited on the sale of its Retail Information and Communication Technology and Sprout business to Telstra.

Telstra has acquired a big chunk of its retail stores from its former landlord Vita Group for $110 million, officially ending their 26-year partnership.

The sale includes approximately 104 Telstra retail stores.

The transaction completed on 12 November 2021. It represents an important milestone for Vita as it exits the information, communication and technology sector and focuses on the skin health and wellness industry via its Artisan Aesthetics Clinics business.

Vita Group Limited (ASX:VTG) is a leading Australian retailer which has provided personalised service and added value to customers for more than 25 years.

Telstra (ASX:TLS) is an Australian telecommunications company. 

The MinterEllison team was led by partner Gary Goldman (Picture), supported by  Anastasia Maynes (Legal Consultant), James Allen (Senior Associate), Olivia Fielding (Associate), Famin Ahmed (Lawyer), Blaire O’Loughlin-Mills (Graduate) and Jenny Chen (Graduate). Transactional support was also provided by specialist lawyers across the firm.

Involved fees earner: Famin Ahmed – MinterEllison; James Allen – MinterEllison; Olivia Fielding – MinterEllison; Gary Goldman – MinterEllison;

Law Firms: MinterEllison;

Clients: Vita Group Limited;

Sonia Carcano

Author: Sonia Carcano