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CBW acts for Modern Baking Group in Saleslink investment

CBW is pleased to advise that it has recently completed the investment by leading retail sales management organisation, Saleslink Australasia, in Modern Baking in a move which will further enhance the growth strategy of Modern Baking. Along with investment, the MH Carnegie backed Saleslink will be applying its Australia wide retail sales management and marketing capacity in the business and will assist with product innovation and enhancing sales and distribution.

CBW advised the Modern Baking and its existing investors in the transaction.

MBC and its predecessor companies have been manufacturing biscuits and other baked goods for the Australian market since the 1950s. Now based in a purpose built 22,000 square meter facility in Melbourne’s Broadmeadows, they employ more than 150 staff and produce some of Australia’s most loved grocery products.
Originally called Universal Biscuits, the company grew in size and brands both organically and through acquisition of local manufacturers. In 2007, operations were consolidated into the current state-of-the-art manufacturing facility and offices.

Lead Partner on the transaction, Brett Burns was quoted as saying:

“ It was a fantastic to continue to assist in the transformation of Modern Baking having acted for the existing investor group in its acquisition in March 2012”


CBW advises on takeover defence

On 28 April 2014, Azure Healthcare Pty Ltd (ASX:AZV) received a preliminary, incomplete, indicative, conditional non-binding proposal to acquire all of its issued capital.

CBW Partner’s we are asked to advise Azure on the offer and on the subsequent due diligence by the bidder.

While the offer ultimately did not proceed Lead Partner on the transaction, Brett Burns was quoted as saying:

“It was good opportunity to demonstrate our skills in this areas having advised on many friendly and hostile takeover over the past 20 years. Having advised Azure on its recapitalisation in 2012, it is a real testament to the Board and Management of Azure that they have so successfully transformed the business in to one that is getting significant attention of other players in the market..”


CBW advises Cloud Central on proposed backdoor listing

CBW partners was pleased to advise Cloud Central Pty Ltd on the proposal to be acquired by Dromana Estate Ltd (ASX:DMY) by way of backdoor listing.

Cloud Central is an emerging computing business currently generating revenue from over 200 active customers across Australia.

CBW partner acted for the venders of Cloud Central advising on the acquisition process and its implications under the Corporations Act and ASX Listing Rules.

Lead Partner on the transaction, Brett Burns was quoted as saying:

“After a reasonably quite IPO/backdoor listing market post the GFC it’s good to see activity back in the market this financial year. More particularly, it is good to see a shift back to listings of some non-mining related businesses.”


CBW acts for Grill’d in refinance

CBW is pleased to advise that it has recently completed the refinance of corporate debt facilities for healthy hamburger chain Grill’d.

Founded in 2004, Grill’d have 69 stores across Australia, 42 of which are company owned, and plans to expand.

Lead Partner on the transaction, Brett Burns was quoted as saying:

“I was very pleased to have the opportunity to advise such a successful retail business. Given I had advised them on their original facilities, it was a great opportunity to leverage our existing knowledge of the business to refinance the facility into one which offered Grill’d more flexibility in its funding.”

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