Maddocks advises on sale of iconic Australian company
Maddocks, along with Canterbury Partners and Fordham, have advised Chris Malcolm, the owner of Australian retail brand Clark Rubber, on the company’s sale to a group of investors.
Clark Rubber has roots going back to 1946 and now has 60 stores nationally specialising in pools, foam and rubber products. Mr Malcolm turned the company into a franchise business in the 1990s which led Clark Rubber to grow quickly across Australia.
In the deal, a group comprising three investors, operating as CRG Operations Pty Ltd, acquired the Clark Rubber and Luxafoam group.
Greg said the deal drew on the firm’s long-time experience and expertise in the franchise sector and key acquisitions and divestments for founders and family-run companies.
'Chris and the Clark Rubber brand have been synonymous with success and best practice within the franchise sector for almost 30 years,' Greg said.
'We were delighted to assist Chris to realise his long term investment and at the same time transition the business to an experienced purchaser group with the skills and long-term vision to sustain and grow the retail network.'
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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