Wisewould Mahony advised Australian chocolate manufacturer GKC Foods (Australia) Pty Ltd (GKC Foods) on its sale to Swiss chocolate manufacturer, Barry Callebaut. Negotiations commenced in November 2019 and with COVID-19 restrictions still in place, the deal was signed on 27 May 2020 via virtual signing ceremony. The transaction is expected to be finalised by the end of 2020, subject to regulatory approval by the Foreign Investment Review Board (FIRB).
GKC Foods has been a leading manufacturer and B2B supplier of Australian made chocolate and confectionary products since the 1980s. The acquisition will be Barry Callebaut’s first entry into the Australian and New Zealand markets as part of its global expansion. The transaction will see an upgrade and expansion of GKC Food’s current factory in Melbourne as well as a substantial increase in business operations and employment.
Wisewould Mahony provided GKC Foods with legal advice on all aspects of the transaction including managing the due diligence, negotiation and structuring of the deal, as well as advising on potential regulatory issues.
The Wisewould Mahony team was led by Adam Rich (Partner), Cain McGirr (Partner) and Jules Borell (Lawyer).