Gilbert + Tobin has advised Quadrant Private Equity on its acquisition of the Darrell Lea and RJ’s Liquorice businesses from the Quinn family.
Founded in 1927, Darrell Lea now operates two manufacturing sites and sells over 14,000 tonnes of confectionery annually throughout Australia, New Zealand, the United States, Canada and the United Kingdom. The Quinn family purchased Darrell Lea following its administration in 2012.
Gilbert + Tobin’s market-leading M&A team worked closely with Quadrant across all legal aspects of this transaction. This was the first investment for Quadrant’s new investment fund, Quadrant Fund No. 6.
Commenting on the deal, partner Rachael Bassil said, “We are pleased to be able to support our long-standing client, Quadrant, on its acquisition of an iconic Australian brand, Darrell Lea. Darrell Lea has already achieved a significant turnaround under the ownership of the Quinns, and Quadrant’s investment will enable it to expand its global distribution and presence.”
Gilbert + Tobin also advised Quadrant on the acquisition and disposal of The Real Petfood Company (formerly VIP Petfoods) and Zip (formerly Zip Industries), alongside the acquisition of the Timezone Group and Ardent Leisure’s bowling division.
Partner Rachael Bassil led the team, with lawyers Alastair Corrigall, Olivia Blakiston and Olivia Nunn providing support.
Gilbert + Tobin has advised on many of Australia’s largest and most innovative recent M&A transactions, including IOOF’s acquisition of ANZ’s One Path and Wealth Management Division, Carlton-United Breweries’ acquisition of Four Pines Brewing, Cover-more on the Scheme of Arrangement with Zurich, Beach Energy’s acquisition of Lattice Energy, and Spotless on the defence of Downer EDI’s takeover bid.