Allens advises on sale of The Good Guys to JB Hi-Fi for $870 million

Allens has advised the Muir family on the sale of The Good Guys to JB Hi-Fi for $870 million, announced on 13 September 2016.

The Good Guys is a leading Australian specialty retailer of household appliances and consumer electronics products. With annual sales of approximately $2 billion, it has leading market positions in multiple categories including white goods, cooking, small kitchen appliances and home entertainment, and 101 stores across metropolitan and regional Australia.

The Good Guys is an iconic Australian retail brand, growing under the stewardship of the Muir family from a single store in suburban Melbourne in 1952 to the number one retailer in its core categories and one of the most successful retail brands in Australia.

Commenting on the transaction, The Good Guys Executive Chairman, Andrew Muir, said: 'Joining forces with JB Hi-Fi makes enormous sense from every standpoint. Bringing these brands under common ownership will combine the skill and expertise of two of Australia's most respected retailers. The combined company will have the scale and resources to realise the growth aspirations and potential of both brands.' The Allens team was led by Corporate Partners Jon Webster and Robert Pick and Senior Associate Georgie Korman. The team included lawyers from across the firm, including the Competition team, led by Partner Ted Hill, and the Banking and Finance team, led by Partner Warwick Newell.

'The Good Guys has a long and proud history as one of Australia's leading retail brands, renowned for its outstanding customer service and community giving, ' Rob said.

'The sale to JB Hi-Fi is the culmination of a dual-track process that saw The Good Guys pursue both a possible IPO and ASX-listing at the same time as pursuing the trade sale.

'We have thoroughly enjoyed working with the Muir family and the highly experienced management team at The Good Guys on this significant milestone in the history of the business.'

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