Australian country spinners divestment
Role of CDI
CDI was engaged for the following activities;
- Develop the Divestment Plan
- Develop the Information Memorandum
- Identify acquirers of the business
- Conduct a global search for potential acquirers
- Contact the potential acquirers and manage communication with each acquirer
- Manage initial discussions and site visits
- Negotiate Non-Binding Offers
- Finalize the Non-Binding Offer
- Develop and manage the virtual data room, corporate advisors and face to face meetings
Participating CDI Offices
Description of Client
Australian Country Spinners is a manufacturer, wholesaler and distributor of natural and synthetic yarns. It operates value added operations within Australia, direct sales/marketing (FOB) to retailers from overseas locations, Publisher of pattern designs in Australia and sells in Australia and New Zealand.
It owns brands like Patons, Cleckheaton, Shephard and Panda. ACS http://www.ausyarnco.com.au supports over 1000 retailers across Australia and New Zealand with its range of hand knitting yarns and patterns across the four brands: Cleckheaton, Panda, Patons and Shepherd.
Description of Acquirer
Bendigo Woollen Mills (https://www.bendigowoollenmills.com.au) is located in the historic gold mining town of Bendigo in Central Victoria – north of Melbourne. We are Australia’s largest hand knitting & crafting yarn mail order manufacturer, with a huge variety of different yarns and colours to choose from.