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Maddocks advises founders on sale of leading equine food company

• 10 February 2022 • 1 min read
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Maddocks has advised the founders of Pryde’s Tuckerbag Pty Ltd on the sale of its leading equine food business, Pryde’s Easifeed, to the SunRice Group.

Under the deal, SunRice – one of Australia’s largest food companies – acquired the NSW-based Pryde’s EasiFeed business for $38 million. Pryde’s EasiFeed produces a range of dietary products for horses, including extruded cubes, pellets, and cooked sweet feed muesli. The company generated revenue of $30.1 million in FY21 and revenue has grown year-on-year for the past four financial years.

The Maddocks team advised on all aspects of the deal. The team was led by Corporate & Commercial partner Ron Smooker, and included special counsel Lindsay Sheather, senior associate Jacqueline Picone, associate Sam Troutman and lawyer Olivia Smedley.

This deal drew on the firm's extensive experience advising company founders on key acquisitions and divestments.

About Maddocks

Maddocks is a proudly independent Australian law firm that works closely with corporations, businesses and governments throughout Australia and internationally. We advise national and international clients across the education, government, healthcare, infrastructure and technology sectors, from our Canberra, Melbourne and Sydney offices. Our specialist expertise includes dispute resolution and litigation, employment and safety, financial services, franchising and insolvency.

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