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Macpherson Kelley has acted for Diver Foods on the sale of 75% of the company to Arnott’s Group.

Diver Foods, based in Scoresby, in Melbourne’s south-east, specialises in producing snack foods and cereal and muesli products for a number of well known household brands.

The Macpherson Kelley team was led by National Managing Principal Lawyer Grant Guenther and included Special Counsel James McLaughlin and Lawyer Aiden McKee. They were assisted on competition issues by Principal Lawyer Paul Kirton and Special Counsel Scott Fitzgibbon.

Diver Foods owner and managing director Chris Diver will retain 25% of the company.

Diver Foods will become part of a new cereals and snacks division Arnott’s intends to create called Good Food Partners, which Mr Diver will manage.

Grant Guenther said the deal was a transformational moment for Australia’s food manufacturing sector, bringing together the makers of some of Australia’s most recognised products.

“We were able to bring our commercial and competition experience, as well as our long history working with the food manufacturing sector, to help bring this deal to completion,” he said.

Chris Diver said: “We see huge potential for the future and are excited at the prospect of joining with a business like The Arnott’s Group that has similar values and strong Australian heritage.”

The information contained in this article is general in nature and cannot be relied on as legal advice nor does it create an engagement. Please contact one of our lawyers listed above for advice about your specific situation.