Case Studies

Acquisition of majority stake in horticultural company

Piper Alderman advised Rocky Point in relation to the sell down of its 60% interest in its garden business to the Hyne Group. 

Team: Andrew Rankin, Caren Klavsen, Kara Pennisi

Service: Corporate & Commercial | Leasing | Mergers & Acquisitions
Sector: Agriculture & Food

Rocky Point is a gardening and horticultural business that supplies premium quality products to the retail garden, nursery, agriculture, home gardening and erosion management industries.

Piper Alderman advised Rocky Point from the very start of the transaction, starting with the negotiation of the term sheet with the Hyne Group. The team assisted Rocky Point to establish a due diligence process and virtual data room and advised in relation to an internal corporate restructure to prepare the Rocky Point business for sale to the Hyne Group. This entailed the transfer of assets and the documentation of various lease arrangements. Piper Alderman also advised on stamp duty. We also advised on the Share Sale Agreement and the Shareholders Agreement.

Both companies share common values including a focus on the production of sustainable, quality products. The transaction was significant for the client as Rocky Point has been looking for opportunities for future growth while allowing their family business to execute succession planning for future generations.