Anchorage Capital, chided for Dick Smith profit, repackages businesses from footwear to burgers

Thu, 07 Jan 2016

By Jonathan Underhill Jan. 7 (BusinessDesk) - Anchorage Capital Partners, which more-than quadrupled its money buying retailer Dick Smith from Woolworths in 2012 and taking it public a year later, has reaped big profits from shaping industries in Australasia ranging from clothing and footwear, to burgers, tinned food and irrigation. Anchorage paid as much as A$115 million for Dick Smith, although only about A$20 million was upfront. Woolworths, having struggled to find a fit for the electronics retailer acquired from its founder in the ea...

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