Melbourne, 8 October 2013: Clayton Utz has provided strategic legal advice and support to retailer Cotton On Group to help it successfully complete its first major retail acquisition, of the Supré retail fashion chain. The transaction completed on 30 September 2013.
Clayton Utz Melbourne Corporate partner Michael Linehan led the firm's core M&A team, which included lawyers Quentin Reidy, Angela Manolakos and Brooke Coghlan. In a collaborative, cross-practice effort, the team was supported by Banking partner Dan Fitts and his team of senior associate Elliot Raleigh and lawyer Katherine Turner, and Property senior associate Caroline van Grieken.
Commenting on the transaction, lead partner Michael Linehan said: "To successfully meet the transaction timetable, our M&A and banking transaction teams worked seamlessly and collaboratively over a two-week period to finalise the necessary transaction documents as well as a refinancing for the purposes of the acquisition.
"The transaction presented a number of unique challenges that required us to deliver practical and effective solutions to achieve a successful commercial outcome for our client, Cotton On. The Clayton Utz team is pleased to have been a part of Cotton On's first major acquisition in the Australian market and to be able to work closely with the management team of such a successful Australian retail business."
Founded in 1991, Cotton On Group is one of Australia's most successful retailers, with over 1000 stores globally and a stable of brands including Cotton On, Cotton On Body, Cotton On Kids, footwear label Rubi shoes, and gifts and stationery retailer, Typo.
As well as stores in Australia and New Zealand, Cotton On Group has a growing international presence in countries including Singapore, Hong Kong, Malaysia, Germany, South Africa, Thailand and the US. The acquisition of Supré will add over 150 stores in Australia and New Zealand to Cotton On Group's expanding retail portfolio.