Harmos Horton Lusk is pleased to have advised Mangawhai Collective on its successful partial takeover offer for Bremworth. The offer, at $0.90 cash per share for 43.94% of the shares in Bremworth not already held or controlled by Mangawhai Collective, took Mangawhai’s holding to a controlling 55% stake.
Bremworth is a longstanding NZX-listed New Zealand company that designs and manufactures premium carpets and rugs, primarily made from New Zealand wool, for residential and commercial customers across New Zealand and Australia. Its carpet business is supported by yarn spinning plants in Napier and Whanganui and a carpet tufting and finishing plant in Auckland, with major distribution centres in Auckland and Sydney.
We advised Mangawhai on all legal aspects of the transaction, including offer strategy, the negotiation of shareholder lock-up deeds, preparation of the takeover notice and offer documents, financing, and compliance with the Takeovers Code and securities regulations.
The Harmos Horton Lusk team that advised Mangawhai was led by directors Matthew Wentz and Andrew Harmos and included director Nathanael Starrenburg, counsel Katie Carson and associate Samuel Baker.