Baker McKenzie acted for Platinum Equity in acquiring Staples Australia and New Zealand from their US parent, Staples Inc.  This transaction marks Platinum Equity’s second successful acquisition in Australia (after acquiring a 70% controlling stake in Sensis from Telstra in 2014) and is their first investment outside the United States under their new US$6.5 billion Fund IV.

Baker McKenzie lead partner and head of equity capital markets, Craig Andrade stated: "We were delighted to act for our longstanding client, Platinum Equity on their second acquisition in the Australian market having assisted them acquire Sensis from Telstra. Within 10 days we were able to negotiate all transaction documents, complete all due diligence and put in place Warranty & Indemnity insurance."

Staples is a leading supplier of business products, services and solutions in Australia and New Zealand. The company serves a diverse variety of customers, ranging from small-and-medium businesses to large enterprises, including federal, state and territory levels of government in both countries.

Craig was assisted by a multidisciplinary Baker McKenzie team comprising: Tyson May, Adrian Lawrence, Caitlin Whale, Matthew De Cataldo, Ivo Basoski, Jessie Bodor, Lawrence Mendes, Jo Grange, Bryony Binns, Kerryn Kahler, Georgina Foster, David Jones, Sean Rush and Jana Hitchcock.

The transaction is expected to close in the second calendar quarter of 2017.

This transaction follows Baker McKenzie's recent roles in advising Chow Tai Fook on its $4 billion purchase of Alinta, Afterpay on its $600 million merger with Touchcorp, Billabong on its $60 million sale of Tiger Lilly to Crescent Capital Partners, Aurrum and the Home Investment Consortium on their $800 million acquisition of the Masters Hardware business from a Woolworths / Lowes joint venture, BigAir Group on its $200 million takeover of Superloop, Emeco on its restructure and three-way merger with Orionstone and Andy's Earthworks, Hanesbrands on its $1.1 billion takeover of Pacific Brands, Accolade Wines on its acquisition of Lion's premium wine business, Pact Group on its $90 million acquisition of Australian Pharmaceutical Manufacturers