Australia’s leading independent law firm, Corrs Chambers Westgarth, has advised Anchorage Capital Partners (Anchorage) on the acquisition of David Jones from Woolworths Holdings Limited (South Africa) (JSE: WHL).

David Jones was founded in 1838 and is the oldest continuously-operating department store in the world still trading under its original name. It was acquired by Woolworths Holdings in 2014. 

Anchorage is a leading Sydney based private equity fund that invests in businesses operating below their full potential or undergoing significant transformation.   

Led by private equity partners Ricky Casali and Andrew Hewson, Corrs advised Anchorage on all aspects of the transaction. The team have been trusted advisers to Anchorage since its establishment in 2008. 

The team was supported by partners James North, Nathaniel Popelianski, Paul Carrick and Steven Rice, and other experts from across the firm’s private equity, technology, property, employment, intellectual property and financial services groups.

Commenting on the matter, partner Ricky Casali said: “It’s been great to work with long-term client Anchorage Capital Partners on its investment into David Jones. With a strong vision for the retailer, we wish the team all the best on their transformation strategy.”

Partner Andrew Hewson commented: “This is another great example of Corrs’ collaborative culture, with input required from across the firm to reach execution of the transaction in a very short time frame.  David Jones is an iconic Australian retailer and we look forward to following its journey under Anchorage’s stewardship.”