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ABL advises Frank Body on $100m private equity investment

Corporate and M&A
Woman using coffee scrub
Arnold Bloch Leibler has advised Australian-based beauty brand, Frank Body on the sale of a stake of its business to EverYi Capital.

Frank Body was co-founded in 2013 by Steve Rowley, Bree Johnson, Jess Hatzis and Alex Boffa - who started the business with $5,000 in a coffee shop. The brand is known for its signature coffee ground-based body scrubs.

As reported in the Australian Financial Review, Frank Body sold a stake in the business to Chinese private equity firm EverYi Capital. Frank Body plans to use the investment to grow its business in China, with the goal to set up a team in Shanghai to target Chinese millennials. As part of the sale, the co-founders will retain a controlling stake in the business.

Corporate and M&A Partner Jonathan Wenig led the team advising Frank Body, with support from Senior Associate Rebecca Zwier. Commenting on the transaction, Jonathan said: “We are delighted to have assisted Frank Body with this important transaction. The business has exciting prospects and we wish them all the best with their expansion plans.”

About Arnold Bloch Leibler

Arnold Bloch Leibler is a premium Australian commercial law firm renowned for advising clients on their most important transactions, commercial issues and disputes. From offices in Melbourne and Sydney, the firm provides advice to a diverse range of entrepreneurial Australian listed companies, private businesses, high-net-worth individuals and international corporations. The firm also has a dedicated public interest practice providing advice to charities and not-for-profit organisations relating to significant legal, social, environmental and cultural issues.

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