Clarendon Lawyers is pleased to have advised the shareholders of Metro Food Co (Metro) on the sale of Metro Food Co to private equity firm Five V Capital.
Metro will now form part of the Openway Food Co group of companies (Openway) which has been established by Five V to manufacture and distribute a range of health food products. Some of Metro’s shareholders will retain a minority stake in Openway going forward. The company’s chief executive officer (Tom Paton) will also continue to be involved in management of the business.
Based in Melbourne, Metro is a leading FMCG brand development business that offers over 80 health food products to leading supermarkets, independent retailers and consumers Australia wide under the ‘Keep It Cleaner’ brand. Metro was founded in 2017, and partnered with the ‘Keep It Cleaner’ founders (Stephanie Smith and Laura Henshaw) with a vision of making healthy food simple, affordable and accessible for everyone.
The Clarendons team was led by Managing Director, Tony Symons and Director, David Bryant who were assisted by Associates, Zara Treacy and Stephen Dyason.
Tony congratulated the shareholders of Metro on completing this transaction, noting that “it was a pleasure to assist the Metro team on such a significant transaction for them. This transaction marks an exciting opportunity to drive growth in the Metro business and we look forward to seeing it continue to thrive in the impressive Openway portfolio.”
Dave also commented “we are delighted to see Tom and the Metro team achieve such a terrific result. It’s a testament to their hard work over the last few years to establish a high-quality brand that is at the forefront of meeting changing consumer demands for healthy food products.”
Metro was also advised by Canterbury Partners and BDO.
Gilbert & Tobin acted as legal adviser to Five V.