Chapman Tripp has acted for Pencarrow Private Equity and Accident Compensation Corporation (ACC) in their acquisition of Bell Tea and Coffee Company (BTCC) from Foodstuffs New Zealand.
Chapman Tripp acted on all aspects of the transaction, representing both Pencarrow and ACC. The senior management team of BTCC will also take a significant stake in the company. BTCC is a leading New Zealand beverage company and is the owner of Bell Tea, New Zealand’s oldest and most iconic tea brand.
The Chapman Tripp team was led by partner John Strowger and senior associate Rachel Dunne. Partner Cathryn Barber advised on the financing aspects of the transaction.
John Strowger said: “Chapman Tripp has acted on many of New Zealand’s most significant private equity transactions. We are very pleased to have played a role in helping Pencarrow and ACC invest in this iconic New Zealand business”.
The acquisition will be effective from 1 October 2013.