Law firm Maddocks has advised global duty free company Lotte Duty Free Singapore Pte Ltd, on the acquisition of Australian duty free company JR Duty Free.

Under the deal, Lotte Duty Free acquired 100% of the shares in JR Duty Free. The acquisition of JR Duty Free means that Lotte Duty Free, one of the world’s largest operators of duty free stores, has now entered the duty free market in Australia and New Zealand by acquiring several duty free stores from James Richardson.

The Maddocks team was led by partner Chong Ming Goh and included property partner Stella Wild, commercial partner Rob Gregory, employment, safety and people partner Lindy Richardson, senior associate Courtney Ford, commercial lawyers Richard Hanson and Sharee Darwinkel and Graduate Alisha Shamin. Involvement in the entire sale process also included numerous other partners and lawyers from Commercial, Employment, Safety and People and Property Teams.

The purchase was completed late last year and teams from KPMG Korea also advised Lotte Duty Free Singapore Pte Ltd, while Norton Rose Fulbright and Deloitte advised James Richardson.