Allens is advising Pacific Equity Partners (PEP) on the sale of Peters Ice Cream to leading European ice cream manufacturer, R&R Ice Cream.
Under the agreement, R&R Ice Cream, which is owned by major European private equity firm PAI Partners, will acquire Peters and its portfolio of iconic ice cream brands, including Drumstick, Peters Original and Maxibon.
The Allens team was led by Partner and co-head of the firm's Private Equity practice Tom Story and Senior Associate Richard Bell.
Mr Story said the sale was undertaken via a dual-track process, which entailed a competitive auction and a proposed IPO. Allens ECM Partners Rob Pick and Julian Donnan advised in relation to the preparations for the IPO.
'The IPO phase of the process was progressed to a late stage before a successful bidder was announced. The transaction marks a successful exit for PEP from its investment in Peters,' Mr Story said.
Allens also advised PEP in relation to its original acquisition of the Peters business in 2012.
Allens legal team
Tom Story (Partner), Rob Pick (Partner), Julian Donnan (Partner), Richard Bell (Senior Associate), Jonathan Dillon (Senior Associate)
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Notes for editors.
Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 40 offices in 28 countries around the world.