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Hallmark Group to scoop up 5 Jamie's Italian restaurants

Hallmark Group to scoop up 5 Jamie's Italian restaurants

Jamie's Italian restaurants

Thomson Geer has advised the Brisbane-based company on its impending acquisition of five Jamie's Italian restaurants.

Firms: Thomson Geer (Hallmark Group); King & Wood Mallesons (Jamie Oliver Restaurant Group - Australia - Pty Ltd)

Deal: Hallmark Group has entered into a conditional contract to acquire five Jamie's Italian restaurants.

Value: Confidential

Area: M&A

Key players: The Thomson Geer legal team was led by M&A partner Eugene Fung, with assistance from lawyer Sarah Dean.

Deal significance: Through this agreement the Hallmark Group will acquire the Jamie Oliver restaurants which are based in Sydney, Parramatta, Brisbane, Perth and Adelaide. Following contracts being exchanged, the seller - Jamie Oliver Restaurant Group Australia Pty Ltd - was placed into voluntary administration, resulting in the closure of its Canberra store.

"This is the second turnaround play for the Jamie’s Italian business in Australia after the Jamie Oliver Group in the UK bought back the chain from the Keystone Group, which itself went into receivership in 2016," said a statement from Thomson Geer.

"Our client, Brisbane based Hallmark Restaurants Group, has entered into a conditional contract to buy the remaining five Australian stores and aims to restructure and turn the business around, and has announced that it is actively seeking sites for expansion."

Lawyers Weekly's sister publication MyBusiness recently covered the news about the restaurant chain's Aussie stores closing up shop. To check it out, click here.

Pictured: Thomson Geer partner Eugene Fung.

 

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