MinterEllison has advised McGrathNicol, as administrators of the Beechworth based Billson's Beverages, on the successful sale of its alcoholic ready-to-drink (ARTD) business to The Coca-Cola Company (TCCC). The transaction ensures the future of the much-loved Billson's brands and marks TCCC's first acquisition of alcoholic beverage brands in Australia.
The sale involved two vendors-Billson's Beverages and Billson's Holdings - with MinterEllison acting for Billson's Beverages, under the control of its administrators and subsequently deed administrators.
The deal required careful management throughout, and MinterEllison advised from the initial bid process to completion of the transaction, as well as assisted McGrathNicol to manage the parallel voluntary administration process which resulted in a deed of company arrangement (DOCA) in respect of Billson's Beverages. The sale and DOCA both completed on 31 January 2025.
MinterEllison provided strategic insolvency and corporate advice throughout the deal, supporting McGrathNicol to navigate the complexities of the fast-paced transaction and achieve a successful outcome.
MinterEllison's team was led by Partners Nick Anson (Insolvency) and Esmond Prowse (M&A).
Nick Anson, Partner at MinterEllison, commented: "We are proud to have supported McGrathNicol on this significant transaction, ensuring a strong future for the Billson's brands. This is a fantastic outcome for the regional Victorian town of Beechworth. As part of the transaction, Billson's Beverages has been re-named 'LAST ST Pty Ltd,' with the business returning to the control of its director. LAST ST will continue to produce its well-known cordial, soda and beer range from its renowned brewery and hospitality venue in Beechworth, while the Billson's brand and ARTD business will have the opportunity to thrive under TCCC's management."
Esmond Prowse, Partner at MinterEllison, said: "This transaction demonstrates our firm's ability to leverage expertise across multiple disciplines to achieve exceptional outcomes for our clients. By combining deep industry knowledge, strategic insight, and cross-sector experience, we were able to deliver a tailored solution that ensures continued success for Billson's."
The MinterEllison team provided legal expertise across M&A, insolvency, taxation and intellectual property to facilitate this transaction.
