Ogier advise Waitrose on entry into Channel Islands
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The culmination of several months’ work by legal teams at both Ogier’s Guernsey and Jersey offices has helped Waitrose, a leading UK supermarket, acquire substantial retail businesses in both islands. Lawyers from many disciplines advised on the various legal aspects of the transaction, which sees Waitrose acquiring five supermarket stores from the Sandpiper CI Group. The Commercial Property, Corporate, Competition, Employment, Pension and Employee Benefit teams worked around the clock in the run up to the signing of contracts on Wednesday morning, and provided the legal advice on the acquisition, competition, corporate, regulatory, insurance, property, employment and pension elements of the deal. The deal is expected to complete in October 2010, subject to regulatory authority approval. Ogier worked in conjunction with UK law firm Eversheds on this acquisition with Babbé assisting on the Guernsey property aspects of the deal.
“Caroline Chan, partner of Ogier, who led the Guernsey team said “Our Guernsey and Jersey teams have worked very closely together to ensure this transaction was brought to a smooth and simultaneous conclusion in both islands. Our pan-island approach has seen us involved in a number of high profile acquisition matters over the years and we are delighted to act for Waitrose, which is such a respected household name.”
Ogier will continue to assist in the introduction of the Waitrose operations in the Channel Islands. To integrate the Waitrose culture and procedures throughout the new stores will require new contracts of employment being issued for over 480 existing employees and for a significant number of new employees, as well as the production of a revised staff handbook for the Guernsey and Jersey stores. Michael Little, Head of Ogier’s Employment Group, will continue to advise Waitrose on the new employment documents and processes that need to be established.
He commented “This transaction has been complex in as much as it has required a high level of knowledge and understanding of the legislation, regulation, cultures and differences between the two Channel Islands for a major UK company. In working closely with Waitrose it is evident that an affinity to their people is of paramount importance to them. They set very high standards, put people at the centre of what they do and will undoubtedly become one of the leading employers in the Channel Islands.”
Margaret Casely-Hayford, Director of Legal Services to the John Lewis Partnership said:
"We are very pleased to be opening our first stores in the Channel Islands, which will enable us to make our brand available to more shoppers. The support of law firms Ogier and Eversheds has been invaluable. We worked closely with both law firms to make this deal possible and we appreciate the efforts of the whole team throughout the process. Ogier's having specialist knowledge of the Islands' jurisdiction was particularly helpful."
The Guernsey legal team consisted of Partner, Caroline Chan, Managing Associates Michael Little and Andy Lowe, Senior Associate Andrew Keast and Associate lawyers, Kerrie Le Tissier, Charisma Lyall and Kim Paiva.