Supabarn Supermarkets

Overview

Supabarn Supermarkets (the �Company�) is a chain of 10 independently owned full line supermarkets strategically located in Canberra and Sydney. The family had previously engaged with various competitors to ascertain the interest in a potential sale.

333 Capital was approached by the Shareholders to advise the Company on its sale process in based on 333 Capital�s track record in successfully advising the sales of private family businesses to major corporates, the most relevant sale in this instance was Theo�s Liquor to Coles for $500 million.

Our approach

333 Capital ran a comprehensive international sale process including:

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• preparing all selling documents to encourage Buyer engagement, particularly highlighting Coles� lack of exposure to the ACT market relative to its major rival
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• identifying and engaging with credible potential buyers
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• developing and managing the deal strategy and tactics
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• managed the data room and QA process to allow Management to focus on running the business
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• advising the family Board on and undertaking deal negotiations
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• overseeing Supabarn�s other advisers (legal, ACCC and tax) in respect of the asset sale agreement.
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Outcome

The process led to a successful sale of the Company�s assets to Coles Supermarket for approximately $80 million plus further potential upside. Despite ACCC concerns for one of the primary bidders, 333 Capital was able to run a competitive sale process resulting in a very attractive price for our client.