Nisshin Flour Milling Inc. and Nisshin Seifun Group Inc. completed the acquisition of Allied Pinnacle Pty Limited from funds operated by Pacific Equity Partners and others.
April 10, 2019
Share
Nisshin Flour Milling Inc. and Nisshin Seifun Group Inc. (TSE:2002) signed a share purchase and sale contract to acquire Allied Pinnacle Pty Limited from funds operated by Pacific Equity Partners and others for AUD 950 million on February 27, 2019. Under the terms, 0.39 million shares will be acquired for AUD 574 million and related debt will be assumed. Allied Pinnacle will be acquired for an enterprise value of AUD 950 million. Nisshin Seifun Group, Inc. will own 20% stake and Nisshin Flour Milling Inc. would own 80% stake in Allied Pinnacle Pty Limited, after the deal. Pacific Equity Partners will sell 98.9% stake in Allied Pinnacle Pty Limited while the other shareholders will sell 1.1% stake. Board of Nisshin Seifun Group Inc. resolved in favor of the deal. Deal is expected to close by April 1, 2019. Deutsche Bank acted as financial advisor to Nisshin Seifun Group. Deloitte Corporate Finance acted as financial advisor for Nisshin Seifun Group. Hiroshi Narushima, Ilona Hunnisett and Oliver Yee of Gilbert + Tobin acted as legal advisors for Pacific Equity Partners. UBS AG acted as broker for Pacific Equity Partners in the transaction. Natsuko Ogawa, James Brownstein Shojeeb Alam, Shiho Asai, Genichiro Ito, James McGhie, Stephen Moore, Matthew Bubb, Rehana Box, Richard Brooks, Emma Butler, Adam Firth, Andrew Harpur, Jane Harvey, David Jardine, Justin Jones, Ian Kellock, Amanda Ludlow, Jeff Lynn, Geoffrey Mann, Lionel Meehan and Kellech Smith, Peter Allen, Luke Carbon, Liz Grey, Caroline Hogan, Roderick Kennedy, Bronwyn Kirkwood, Geoff McGrath, Melissa Molloy, Michael Murray and Kristina Popova, and associates Carrick Brough, Jessica Cao, Rebecca Campigli, Rishada Cassim, Duncan Knowles, Rebecca Lew, Alex Nash, Tim Rankin, Jake Saccardo, James Sainty and Anna Seddon of Ashurst LLP and Nishimura & Asahi acted as legal advisors for Nisshin Seifun Group Inc. UBS Group AG acted as financial advisor to Pacific Equity Partners.
Nisshin Flour Milling Inc. and Nisshin Seifun Group Inc. (TSE:2002) completed the acquisition of Allied Pinnacle Pty Limited from funds operated by Pacific Equity Partners and others on April 11, 2019.
Nisshin Seifun Group Inc. is a food processing group organized around 3 areas of activity:
- manufacturing of food products (47.3% of net sales): pasta, ready meal, canned food, frozen food, sauces, etc.;
- production of flour (46.1%). The group also develops catering and bakeries operation;
- other (6.6%): logistics services, animal feed manufacturing, etc.
Nisshin Flour Milling Inc. and Nisshin Seifun Group Inc. completed the acquisition of Allied Pinnacle Pty Limited from funds operated by Pacific Equity Partners and others.
NISSHIN SEIFUN GROUP INC. 
