Australian electronics retailer Jaycar has bought Kiwi fishing and boating goods company Burnsco.
Jaycar Group chief executive Chris Wilesmith said Burnsco was expected to keep operating as a standalone business, under existing Burnsco brands.
Wilesmith said Burnsco’s senior management team was well-respected and it was unlikely Kiwi customers would notice much difference when the ownership change occurs.
Burnsco said the deal was signed on Friday, with a view to completing the sale at the end of this year.
“Every business must be focused on growth and future opportunities. If it’s not going forward, it will inevitably go backwards,” Burnsco managing director Bruce Macleod said.
