MinterEllison is pleased to support its long-standing client, Salter Brothers, in its acquisition of the Spicers Retreats business.
The acquisition includes Spicers Clovelly Estate, Spicers Tamarind Retreat and Spicers Peak Lodge in Queensland, Spicers Guesthouse and Spicers Vineyards Estate in the Hunter Valley and Spicers Sangoma Retreat in the Blue Mountains.
Salter Brothers also acquired the 'Spicers' and the 'Spicers Retreats' brands and ancillary businesses (including the 'Private Collection by Spicers' business).
Transaction documents, including a business sale agreement and land sale contracts, were signed and exchanged earlier this week.
Salter Brothers is an Australian-owned global fund manager with a focus on hotels, property, private equity and credit, with group assets under management of over $2.6 billion.
MinterEllison has supported Salter Brothers in all of its hotel acquisitions since its inception, including its acquisition earlier this year of the Travelodge hotel portfolio.
The team, led by Partners Joseph Pace and Alice Langham, advised on all aspects of the transaction, and will continue to assist Salter Brothers in the lead up to completion of the acquisition.
"We're delighted to be considered a trusted advisor to our loyal and longstanding client, Salter Brothers, as they continue to support and invest in Australia's hospitality industry through the expansion of their existing portfolio of hotels," said Mr Pace.
"Salter Brothers is currently the most active player in the Australian hotel market. With a focus on creating unique experiences for Australians, while prioritising sustainability and the environment, we're pleased to see it go from strength to strength following a challenging few years for the sector," Ms Langham added.
The acquisition is likely to complete in the first quarter of 2023.
The MinterEllison team included specialists across the teams including transactions, real estate, tax, funds, financing, IP and IT, privacy, litigation, workplace law, migration and insurance.
