KEY POINTS:
Privately held homeware and clothing multi-channel retailer EziBuy has acquired women's clothing retailer Max for an unknown sum.
Australasia's biggest apparel and home decor catalogue company said the purchase of Max is part of its growth strategy, which has so far included the opening of retail stores throughout New Zealand and the acquisition of corporate clothing company Profile Ltd. It also owns a half stake in kidswear retailer Just Kids.
Max "has the potential for significant growth both in New Zealand and Australia," said EziBuy chief executive Mary Devine, who will now also assume the role of Max managing director.
Max's store footprint since opening shop in 1985 has increased to 39 from 5 and revenue these days is around $60 million, compared with EziBuy's turnover of over $190 million. Max, formerly owned by New Zealand private equity firm Direct Capital, targets the female 18 to 45 year old market.
EziBuy plans to eye further acquisitions, with a particular focus on the Australian market, Ms Devine said.
Australian private equity house Catalyst bought 43.5 per cent of EziBuy in February this year.
