Media Release: Clayton Utz advising Japan's Suntory Beverage & Food on A$229m sale of fresh coffee business

15 Feb 2022

15 February 2022: A Clayton Utz team is advising Japan based Suntory Beverage & Food Limited (SBF) on the sale of its fresh coffee business in Australia, New Zealand and Singapore to the Japan-headquartered global coffee business UCC Holdings Co., Ltd (UCC).  The transaction was announced on 10 February, and is expected to complete in the first half of 2022. 

Sydney-based Corporate partner Geoff Hoffman is leading our team, which includes lawyers Megan Williams and Natasha Cutler.  The transaction total consideration is approximately A$229 million, plus debt. 

SBF’s fresh coffee business includes the specialty brands Toby’s Estate, L’affare, and Atomic and mainstream coffee brands including Robert Harris, and Mocopan, as well as a significant contract roasting operation servicing key accounts in the retail and convenience sector. 

Commenting on the deal, Geoff said:

It reflects ongoing strong investor appetite for quality food and beverage businesses, continuing the trend for the past several years.

In 2017, Geoff and a team advised SBF on the sale of its Cerebos Food & Instant Coffee (in Australia and New Zealand) and Asian Home Gourmet Singapore businesses to Kraft-Heinz, for A$290 million.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.