Clayton Utz has advised UK-based floor coverings manufacturer Victoria PLC on its proposed A$34million acquisition of Australian underlay and hard wood flooring manufacturer Dunlop Flooring, from Pacific Brands Limited. The transaction was announced to the market on 15 December.
This is the latest strategic acquisition by Victoria PLC of an Australian based business, with the company acquiring Dandenong, Victoria based Quest Carpet in 2015 – a deal valued at approximately A$35 million.
Clayton Utz partner Michael Linehan (Picture) and senior associate Quentin Reidy are leading the transaction, which is expected to complete by March 2017 (subject to customary conditions precedent).
Law Firms: Clayton Utz;
Clients: Victoria Plc;