Arnold Bloch Leibler has acted for the famed Chargrill Charlie’s business and its founders on the sale of Chargrill Charlie’s to private equity owned Craveable Brands (owner of Australian-based franchises including Red Rooster, Oporto and Chicken Treat).
As reported in the Australian Financial Review, private equity group PAG Asia Capital, via its Craveable Brands business, has bought the Chargrill Charlie’s business which currently operates 19 outlets across NSW and Victoria.
The sale is the culmination of Chargrill Charlie’s successful 34 year journey, beginning in 1989 with one outlet in the beachside suburb of Coogee in Sydney, Australia.
The ABL cross-practice team was led by Corporate and M&A partners Paul Rubenstein and Gavin Hammerschlag, who advised on all commercial aspects of the transaction, and were assisted by Corporate and M&A lawyers Megan Hosiosky, Michelle Lau, Drew Hawkes, Sara Yacoub and Cameron Sivwright.
Additional specialist advice was provided by Jonathan Ortner (Partner, Tax), George Bassil (Lawyer, Tax), Rachel Soh (Special Counsel, Workplace Advisory) and Madeleine Durrant (Lawyer, Workplace Advisory).
Commenting on the sale, Corporate and M&A partner Gavin Hammerschlag said: "We are thrilled to have assisted the founders of Chargrill Charlie’s to achieve this monumental outcome in selling to Craveable Brands. This transaction recognises the significant achievements of the founders of Chargrill Charlie’s and their passionate and highly skilled team in building Chargrill Charlie’s from a single store to an iconic and much-loved brand."