Pitcher Partners acted for Vitalharvest in connection with the $185 million IPO and ASX listing of the Vitalharvest Freehold Trust (Vitalharvest) on 1 August 2018 and the debt financing of $95 million (transaction value of $280 million).
The first REIT listing of the 2019 financial year, Vitalharvest is also the first ever standalone agricultural REIT of its kind with tri-state holdings of major citrus and berry properties in New South Wales, South Australia and Tasmania.
The Pitcher Partners Melbourne team, led by National Chairman John Brazzale, and a team including partners Stuart Dall (Taxation), Craig Whatman (Transaction Taxes), Stephen Whitchurch and James Beaumont (Corporate Finance) advised on various aspects of the transaction, including tax consulting and investigative accountant services.
John Brazzale said that the transaction was a unique opportunity to advise on a transformative realignment of the equity and debt holdings of some of Australia’s key agricultural landholdings. “We are very proud of our team and how they have worked alongside our client and its other advisers to facilitate the deal. Most importantly, we are thrilled for our client and are delighted to have advised on the first Australian agri-REIT of its kind.