Specialty Fashion Group is the largest specialty retailer of women's fashion in Australasia, with more than 1,000 retail shops across Australia, New Zealand, South Africa and the United States.
Anne McDonald, Chairperson of Specialty Fashion Group said: “In a challenging and rapidly changing retail environment, Specialty Fashion Group has been successful in building City Chic into a market leader in the attractive plus-size segment of the women’s apparel market. The business has strong cash flow generation and significant future earnings growth potential. The transaction will provide the funding flexibility, corporate structure and management focus required to realise City Chic’s longer term full potential."
Jeremy Leibler commented: “We are delighted to have been able to assist the Board of Specialty Fashion Group throughout its comprehensive strategic review, beginning with the takeover offer from the Qatari royal family in 2016 and culminating in this sale transaction creating value for shareholders.”
This significant transaction highlights the expertise and depth that ABL offers its clients. Cross-practice involvement in the transaction included Partner Clint Harding, Senior Associate Jonathan Ortner and Lawyer Peter Scott providing tax advice; and head of Workplace Advisory Bridget Little and Senior Associate Rachel Soh in relation to employment matters.
For more information, or to arrange an interview, contact Claire Tedeschi, on 0457 822 642.
About Arnold Bloch Leibler
Arnold Bloch Leibler is a premier Australian commercial law firm that provides strategic legal and commercial advice nationally from its offices in Melbourne and Sydney to a diverse range of leading Australian corporations, high-net-worth individuals and large family businesses as well as international corporations. Arnold Bloch Leibler also has a dedicated pro bono practice providing advice on social, environmental and cultural issues to more than 150 charitable and not-for-profit organisations.