Nicholson Ryan Lawyers (NRL) advises Nature One Dairy (Australia) Pte Ltd (NOD) on the sale of its powdered milk businesses to OJC

Nicholson Ryan Lawyers (NRL) is pleased to have advised Nature One Dairy (Australia) Pte Ltd (NOD) on its successful negotiation of a Share Sale Agreement with Original Juice Company (ASX:OJC), under which NOD will divest its entire powdered and baby formula milk product manufacturing division, managed by three of its subsidiaries (Transaction). The Transaction forms part of a broader merger, in which SPC Global Ltd (SPC), a leading producer of packaged fruit, tomato-based products and baked beans, will combine with OJC, a market leader in chilled fruit and vegetable juices, to create an ASX listed powerhouse in the Australian food and beverage industry (Merger).

The Merger will see SPC holding 69.2% of the merged entity, with 15.5% for existing OJC shareholders and 15.3% for NOD shareholders. The merger is anticipated to unlock significant synergies and elevate the merged entity’s competitive position in the market, with expected revenue of over $400 million.

Completion remains subject to several conditions, including OJC shareholder approval in November.

The Nicholson Ryan team was led by principal, Leath Nicholson and supported by associate, Alannah Beath.