Leading national law firm Mills Oakley has advised Paramount Liquor in respect of a transaction which saw Mercury Capital’s $1 billion fund take a 50% stake in the Paramount Liquor group.
Paramount is a leading independent liquor wholesaler in Australia. Founded in 1992, the business has evolved from a single-site operation in Melbourne into a national platform with operations across the eastern seaboard. The business has a strong heritage and market position in the on-premise channel, supplying more than 10,000 venues including restaurants, hotels, bars, pubs, clubs, festivals and events.
Paramount’s growing national distribution network comprises warehouses in Melbourne, Sydney, Brisbane, Adelaide and Cairns and more than 600+ staff.
Complementing the wholesale division, Paramount Retail is an emerging retail platform operating under the Barrel & Batch and Bottle Stop brands.
Mercury Capital is a private equity fund that seeks to invest alongside management, founders and other shareholders in businesses that demonstrate leadership in their industry, clear growth strategies and compelling growth opportunities. Mercury Capital’s fund twenty2 made the purchase where Paramount will sit in a portfolio alongside Findex, Matrix Education, Fyfe, JMC Academy and Forsyth Barr.
Mills Oakley advised on all aspects of the transaction, including a complex restructure.
The Mills Oakley team was led by Corporate Advisory Partners Brendan Sheehan, Tony Symons and Tim Downing who were assisted by a number of lawyers, including Stacey Adams and Emily Cleeve.
Commenting on the transaction, Paramount’s client relationship partner, Tony Symons said:
“It was a pleasure to support Paramount Liquor and the Rowe family with this transaction. We have been privileged to be a part of their journey over a number of years and it was particularly satisfying to see the Rowe family’s efforts rewarded in this transformational transaction. We are confident that the Rowes and Mercury Capital will make great partners and each contribute to the continued growth of Paramount.”
KMPG was Paramount’s tax advisor. Corrs Chambers Westgarth and Deloitte advised Mercury Capital.
