Sale of leading motorcycle businesses
Piper Alderman acted for Stephen Chiodo and his family in relation to the sale of their interest in the Peter Stevens Motorcycles and Harley Heaven retail businesses and associated property portfolio to Ms Jessica Chiodo-Reidy.
Established in 1970, Peter Stevens Motorcycles is an experienced and trusted motorcycle retailer with stores in four locations across Victoria and South Australia.
Harley Heaven operates the Harley-Davidson Motorcycle retail stores and was established in 1982 with dealerships in 6 locations across Victoria, South Australia and New South Wales.
As of January 31 2023, Ms Chiodo-Reidy has taken control and 100 per cent ownership of the retail businesses and the associated retail property portfolio through the acquisition of Stephen Chiodo’s interest in both, completing the separation of the retail and wholesale businesses as well as the family succession plan.
The matter was the final piece in a long running restructure of the family businesses which has also seen Stephen and Paul Chiodo acquire the wholesale business of PSI, PSI Cycling and Fox Racing Australia.
Stephen Chiodo of Peter Stevens Motorcycles said:
“I wish to personally thank the Piper Alderman team that worked with us on our family business succession plan. Family business matters can be complex and delicate, and the team handled the task with skill and sensitivity, while retaining a much welcomed and useful sense of humour.”