ASX listed company Primary Opinion, has signed an agreement with founders Ulli and Helmut Spranz to buy 100% of B-D. Farm Paris Creek (Paris Creek).
MinterEllison has acted for Paris Creek, which was acquired for $43.0m (on an enterprise value basis).
Paris Creek is an iconic South Australian biodynamic and organic dairy processor and manufacturer. It produces milk, butter, cheese, quark, yogurt and flavoured milk.
Located in the Adelaide Hills it has been selling premium organic dairy products for 20 years and is well known in the South Australian market, where it has a dominant market share. Its products are produced with an ethical and sustainable focus, and avoids the use of artificial ingredients.
The acquisition is subject to shareholder approval.
The MinterEllison corporate team was led by Alberto Colla (Partner), Keith Tan (Special Counsel) and Kate Koidl (Senior Associate) with specialist input from tax partner Elissa Romanin and IP special counsel Nicole Reid. The corporate team collaborated with Paul Ng (Partner, South Australia) in relation to the property related aspects of the transaction.