Capabilities by Industry: Consumer Goods & Retail
Greenhill has considerable transaction experience and a global network of corporate relationships in the Consumer Goods & Retail sector. Our Managing Directors and professionals in North America, the United Kingdom, Continental Europe, Australia and Japan have executed many of the most significant and complex transactions for some of the leading companies in the industry.
Our expertise in the Consumer Goods and Retail industry covers: food; specialty ingredients; agricultural commodities; beverage; tobacco; household and personal care; consumer health; grocery retail; apparel; specialty retail; e-commerce; foodservice; and restaurants.
Below we highlight a few of the transactions on which we have advised in this area:
Recent Transactions
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Tipness Limited

Advised Nippon Television Holdings, a media and content company engaged in production and broadcasting primarily in Japan, on the acquisition of Tipness Limited, the fourth largest fitness club company in Japan, from Suntory Holdings and Marubeni Corporation

Modern Star Pty Ltd

Advised Modern Star, Australia and New Zealand’s #1 supplier of education resources and educational toys, on the sale of 90% of its shares to Navis Capital, a leading private equity group focused on investments in South and Southeast Asia

Masco Corporation

Advised Masco Corporation, a leading global provider of home improvement and building products, on the tax-free spin-off of its Installation Services business

Stakes in David Jones and Country Road

Advised Solomon Lew in reviewing his strategic options in relation to David Jones and Country Road. Mr Lew ultimately sold his 11.8% stake in the tightly held Country Road to Woolworths Holdings. Woolworths Holdings also acquired David Jones, Australia’s premier department store, in which Mr Lew held a 9.9% stake

AA Limited

Advised the management buy-in team on the acquisition by leading institutional investors of AA Limited from Acromas and simultaneous listing on the London Stock Exchange

Dillard's, Inc. (Credit Card Assets)

Advised Dillard’s, Inc. on a strategic alliance relating to its credit card business with Wells Fargo & Company

K-Y brand

Advised Reckitt Benckiser, a leading consumer goods manufacturer, on the acquisition of the global rights to the K-Y brand, a leader in intimate lubricants

Safeway Inc.

Advised the Board of Directors of Safeway Inc., a leading food and drug retailer, on its acquisition by Albertsons

Lazada Group GmbH

Advised Tesco plc, a listed FTSE 100 retailer, on its acquisition of a significant minority shareholding in Lazada, the leading online general merchandise retailer in South East Asia

Megapolis Distribution

Advised Japan Tobacco Inc in connection with the acquisition of a minority stake in Megapolis Distribution B.V., Russia’s leading tobacco distributor

Tesco PLC's Chinese retail operations

Advised Tesco PLC on the formation of a joint venture with China Resources Enterprise, a Hong Kong listed, Chinese retailer, to create the leading multi-format retailer in China

Fresh & Easy (owned by Tesco plc)

Advised Tesco plc, a listed FTSE 100 retailer, on the sale of a substantive part of Fresh & Easy’s operating business to YFE Holdings, Inc, an affiliate of The Yucaipa Companies, LLC

Lucozade & Ribena brands (owned by GSK)

Advised GlaxoSmithKline, the UK listed international pharmaceutical and consumer company, on the sale of its nutritional drinks brands Lucozade and Ribena to Suntory Beverage & Food Ltd

Yakult Honsha

Advised Danone, a world leading food company, on its business and capital alliance with Yakult Honsha, the largest probiotic dairy product manufacturer in Japan

Trivett Automotive Group

Advised Inchcape plc, the leading independent international automotive distributor and retailer, on the acquisition of Trivett Automotive Group, the leading luxury and premium automotive group in Australia

SUPERVALU, Inc.

Advised SUPERVALU, a leading food retailer, on the sale of its New Albertsons, Inc. subsidiary to an investor group led by Cerberus Capital Management L.P. In addition to the sale, Greenhill also advised the Company on a simultaneous equity tender offer by Cerberus for up to a 30% stake in pro forma SUPERVALU

Champion Flour Limited

Advised Goodman Fielder, a leading Australian listed food company, on the sale of its New Zealand flour milling business, Champion Flour, to Nisshin Seifun Group Inc.

Target Corporation’s REDcard credit card assets

Advised The Toronto-Dominion Bank Group on its acquisition of Target Corporation’s REDcard credit card assets

Dick Smith Electronics, a subsidiary of Woolworths Limited

Advised Woolworths Limited, Australia’s largest supermarket operator, on the sale of its Consumer Electronics retail chain, Dick Smith Electronics, to Anchorage Capital Partners

ITX (Mobile Phone Retailing Business)

Advised Japan Industrial Partners, a leading private equity firm in Japan, on the acquisition of mobile phone retailing business from ITX, a mobile phones marketer and distributor in Japan

WMF Württembergische Metallwarenfabrik AG

Provided fairness opinion to the Executive Management Board of WMF in connection with the voluntary public takeover offer by Finedining Capital GmbH, a holding company in the possession of funds managed by Kohlberg Kravis Roberts & Co. L.P.

Pension Trustees of Howden Joinery Group plc
Advised the Pension Trustees of Howden Joinery Group plc in negotiating a revised schedule of deficit reduction payments, and with regards to their security position relative to the Company’s lenders

Little World Beverages

Advised Lion on the acquisition of Little World Beverages, Australia’s largest listed brewer and one of the country’s leading players in the Craft beer segment

Armajaro Trading Limited

Advised Armajaro Trading Limited, a global soft commodity trading house and supply chain manager, on raising mezzanine capital from the International Finance Corporation, a unit of the World Bank

Robert Wiseman Dairies PLC

Advised Robert Wiseman Dairies PLC, the UK’s largest processor of fresh milk, on a recommended offer from Unternehmensgruppe Theo Müller S.e.c.s.