FAMILY-OWNED BUSINESS ENTERPRISES – AUSTRALIA

Family businesses face union delegate threat

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Original article by Robert Gottliebsen
The Australian – Page: 21 : 12-Dec-23

The elements of the Closing Loopholes Bill that were recently passed by federal parliament include provisions that will subject the majority of family businesses to compulsory union power. Any family business that employs a union member needs to be aware of these provisions, as they give the union the power to declare that employee as a union delegate; multiple delegates can also be appointed to the same business. The obligations of these union delegates will be determined by the Fair Work Commission, but they will almost certainly include the way the family business is conducted. Employers must not in any way restrict the delegate in carrying out his or her duties, and must ensure that they receive training in carrying out these duties.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION

One listing definitely not in White’s plans

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Original article by Damon Kitney
The Australian – Page: 15 : 9-Jan-17

Ray White Real Estate chairman Brian White has ruled out an IPO. CFO Andrew Jamson says White hopes Australia’s largest real estate firm will remain a family-owned company into the fifth generation. Meanwhile, McGrath Limited’s shares are trading at around $A0.90, compared with an issue price of $A2.10 in late 2015, while founder John McGrath resigned as CEO in August 2016. Another family-owned real estate firm, LJ Hooker, dropped plans for an IPO in 2016.

CORPORATES
RAY WHITE REAL ESTATE, McGRATH LIMITED – ASX MEA, LJ HOOKER (AUSTRALIA) PTY LTD, BELL POTTER SECURITIES LIMITED, JP MORGAN AUSTRALIA LIMITED, LEIGHTON HOLDINGS LIMITED, RAMS HOME LOANS PTY LTD

Good Guys sees earnings surge if IPO proceeds

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Original article by Sue Mitchell
The Australian Financial Review – Page: 17 : 24-May-16

Consumer electronics retailer The Good Guys has appointed three lead managers to handle a potential IPO, which is expected to raise up to $A900m. However, chairman Andrew Muir is retaining options such as a trade sale. The Good Guys boasts 100 stores, and Muir aims to complete the purchase of 56 joint venture stores by the end of 2015-16. The group has forecast pro forma EBITDA of $A85m for the financial year.

CORPORATES
THE GOOD GUYS, THE MUIR ELECTRICAL COMPANY PTY LTD, JJB SPORTS, STEINHOFF INTERNATIONAL HOLDINGS LIMITED, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, CREDIT SUISSE (AUSTRALIA) LIMITED, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, UBS HOLDINGS PTY LTD, BAIN CAPITAL LLC, TPG CAPITAL LP, KKR AND COMPANY LP

Israel-based Packer outgrows Australia

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Original article by Perry Williams, Michael Smith
The Australian Financial Review – Page: 1 : 14-Aug-15

James Packer has handed over the chairmanship of Crown Resorts to friend and former investment banker Rob Rankin as the billionaire pursues global casino and technology opportunities. Packer will focus on the company’s Las Vegas property and expansion into online gambling under his new title of executive director. Having sold his Vaucluse mansion, Packer is expected to spend more time in the US and Israel.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, CONSOLIDATED PRESS HOLDINGS LIMITED, UBS HOLDINGS PTY LTD, ARNHEM INVESTMENT MANAGEMENT PTY LTD

Israel-based Packer outgrows Australia

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Original article by Perry Williams, Michael Smith
The Australian Financial Review – Page: 1 : 14-Aug-15

James Packer has handed over the chairmanship of Crown Resorts to friend and former investment banker Rob Rankin as the billionaire pursues global casino and technology opportunities. Packer will focus on the company’s Las Vegas property and expansion into online gambling under his new title of executive director. Having sold his Vaucluse mansion, Packer is expected to spend more time in the US and Israel.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, CONSOLIDATED PRESS HOLDINGS LIMITED, UBS HOLDINGS PTY LTD, ARNHEM INVESTMENT MANAGEMENT PTY LTD

Costa hopeful IPO will be a success

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Original article by Jared Lynch
The Australian Financial Review – Page: 17 : 8-Jul-15

Costa Group Holdings has commenced an international investor roadshow ahead of its Australian IPO, which is expected to be worth around $A1bn. Chairman Frank Costa says the fruit and vegetable group is performing well, and he hopes investors will assess the IPO on its own merits rather than being influenced by factors such as the impact of the debt crisis in Greece on global financial markets.

CORPORATES
COSTA GROUP HOLDINGS LIMITED – ASX CGC, MURRAY GOULBURN CO-OPERATIVE COMPANY LIMITED, MG UNIT TRUST – ASX MGC, PAINE AND PARTNERS LLC, UBS HOLDINGS PTY LTD, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD

Beer sales push NSW to top spot

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Original article by Simon Evans
The Australian Financial Review – Page: 13 : 3-Feb-15

Some 26.3 per cent of Coopers Brewery’s sales were generated in New South Wales (NSW) during the first seven months of 2014-15. South Australia (SA) accounted for 24.8 per cent of the Adelaide-based brewery’s sales. MD Tim Cooper expects NSW to maintain its position as the group’s top-selling market, citing factors such as the state’s bigger population and the lower population growth in SA. The family-owned firm boasts a five per cent share of the national beer market

CORPORATES
COOPERS BREWERY LIMITED, LION PTY LTD, ACCOLADE WINES LIMITED, GRANT BURGE WINES PTY LTD, CHAMP PRIVATE EQUITY PTY LTD, CASTLE HARLAN AUSTRALIAN MEZZANINE PARTNERS PTY LTD, BURGE AND RATHBONE FINE WINE MERCHANTS PTY LTD

Defusing the family conflict timebomb

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Original article by Damon Kitney
The Australian – Page: 20 : 16-Oct-14

The 2014 version of the "Family Business Survey" conducted worldwide by PricewaterhouseCoopers notes that just 33% of such enterprises in Australia have a shareholder agreement, while globally the average is above 50%. Consultant David Smorgon argues that the dismantling of the $A1.5bn Smorgon Consolidated Industries conglomerate in 1995 shows the value of an adequate governance process in dealing with family ownership issues. Another finding in the study is that relatively few local family business operators have plans to hand over to their children

CORPORATES
SMORGON CONSOLIDATED INDUSTRIES PTY LTD, PRICEWATERHOUSECOOPERS, POINTMADE PTY LTD, COOPERS BREWERY LIMITED

Coopers puts up ‘not for sale’ sign

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Original article by Eli Greenblat
The Australian – Page: 17 : 8-Oct-14

The 143 stakeholders in family-owned Coopers Brewery recently voted to amend its constitution. It means that the valuations issued for the shares, which can only be traded among family members, will not be influenced by takeover offers from outside parties such as major rivals Lion or Carlton & United Breweries. Lion had launched an ultimately unsuccessful bid for the South Australian beer group in 2005 that was worth $A420m. The price per share at the time if disregarding the bid was $A190 compared with the $A310 offered, or $A260 based on the original approach

CORPORATES
COOPERS BREWERY LIMITED, CARLTON UNITED BREWERS, FOSTER’S GROUP LIMITED, SABMILLER PLC, LION PTY LTD, KIRIN HOLDINGS COMPANY LIMITED, KPMG AUSTRALIA PTY LTD

Keeping it in the family on wane

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Original article by Tim Boreham
The Australian – Page: 16 : 6-Oct-14

Australian Small Business Minister Bruce Billson will on 6 October 2014 issue new research by accounting firm Pitcher Partners. The study of 500 small enterprise owners from the baby boom generation shows that fewer than half aim to roll out succession plans that ensure the assets will be held by their children. This compares with an average 65% for the other 56 nations surveyed. Another finding is a growing trend among those who do want family ownership to consider female offspring as well as male

CORPORATES
PITCHER PARTNERS CORPORATE ADVISORY PTY LTD, AUSTRALIA. DEPT OF INDUSTRY