Clarendon Lawyers is delighted to have advised the Hardwick family on the sale of Hardwicks Meats, a premium beef and lamb processor, to Kilcoy Global Foods (KGF). The transaction, which was approved by the Foreign Investment Review Board, completed on 1 July 2021.
Established in 1973 by Gary and Vicki Hardwick, but owned and operated by James and Luke Hardwick for some time, Hardwicks Meats is an Australian, family owned business based in Kyneton in Victoria’s central highlands district. It employs over 400 staff and has an extensive distribution network, which services customers across Victoria, South Australia, New South Wales and Queensland. Hardwicks Meats also holds a Tier One export licence and has been exporting its products for almost two decades.
KGF is a $1.5 billion nature-to-plate food solutions company that supplies its products to food service and retail customers through operations in Australia, the United States and China. KGF’s global headquarters are located on the Sunshine Coast in Queensland. KGF plan to retain Hardwicks’ workforce and the company’s two joint managing directors (Luke and James Hardwick) will continue for a transitional period to ensure a smooth transition for the business.
The Clarendons team was led by Managing Director, Tony Symons who was assisted by Associate, Stephen Dyason, and other members of the Clarendons team.
Tony congratulated the Hardwick brothers on completing a complex transaction that will see the business continue to grow under the custodianship of KGF, noting that “it was a pleasure to advise the Hardwick family on such a significant transaction for them, the employees and the local economy. It is deeply satisfying to see business founders like the Hardwick family reap the rewards of decades of hard work, innovation and commitment to the local community.”
“We are currently seeing a large volume of deals in the food processing and foodservice distribution sectors and have advised a number of clients on deals on both the buy-side and the sell-side over the past 2 years.”
Hardwicks Meats was also advised by Fraser Macvean and Pitcher Partners. KGF was advised by Thomson Geer and Deloitte.