Clifford Chance has advised Allied Mills Australia Pty Ltd (Allied Mills) on its sale by its shareholders, GrainCorp and Cargill, to funds advised by Pacific Equity Partners (PEP). Allied Mills is Australia's leading manufacturer of flour, bakery premixes and specialty par-baked products. The transaction involved PEP acquiring 100% of Allied Mills for an enterprise value of AU$455 million.

The team advising Allied Mills in connection with the sale included partners Dave Poddar and Lance Sacks, and counsel Amelia Horvath.
Dave offers, "This transaction builds on the firm's momentum of M&A work in the retail and consumer goods industry. We are observing continued activity in this space as clients seek to realise value and diversify their investments."

Clifford Chance recently advised Mondelez International, Inc. on the sale of most of its grocery business in Australia and New Zealand to Bega Cheese Limited for AU$460 million.