Thomson Geer is advising Brisbane-based Hallmark Group, as it enters into a conditional contract to acquire five Jamie’s Italian restaurants in Sydney, Parramatta, Brisbane, Perth and Adelaide. After contracts were exchanged, the seller Jamie Oliver Restaurant Group (Australia) Pty Ltd was placed into voluntary administration on Monday, resulting in the closure of its Canberra store.
One of our M&A partners, Eugene Fung, advised on the deal, assisted by lawyer, Sarah Dean.
This is the second turnaround play for the Jamie’s Italian business in Australia after the Jamie Oliver Group in the UK bought back the chain from the Keystone Group, which itself went into receivership in 2016. Our client, Brisbane based Hallmark Restaurants Group, has entered into a conditional contract to buy the remaining five Australian stores and aims to restructure and turn the business around, and has announced that it is actively seeking sites for expansion.