Melbourne, 13 August 2015: Leading Australian law firm Clayton Utz has acted as legal adviser to UK-based international carpet business Victoria PLC on its strategic acquisition of the Quest Carpet (Quest) businesses in Australia. The transaction was announced to the market on 7 August 2015. The deal value is approximately A$35 million.
Clayton Utz Melbourne corporate partner Michael Linehan led the firm's transaction team, which included senior associate Quentin Reidy and lawyer Kate Allison.
Michael said Clayton Utz was pleased to have worked with an established and successful international business in expanding its operations in Australia. He said it was particularly exciting for the Clayton Utz team to be able to advise on part of the recent and impressive growth strategy of Victoria PLC.
Victoria PLC manufactures, supplies and distributes design-led carpets and floor coverings. With a history dating back to 1895, it has extensive operations across the UK and in Australia.
Based in the Melbourne suburb of Dandenong, Quest designs, sells and distributes premium quality carpets across Australia and New Zealand.
Under the transaction terms, Victoria PLC will acquire all of the issued share capital in Quest Carpet Manufacturers Pty Limited and all of the issued units in the Quest Carpet Manufacturers Unit Trust.