Woolworths looks to learn from EziBuy

Thu, 22 Aug 2013

By Pam Graham Aug. 22 (BusinessDesk) – EziBuy, the retailer founded in Palmerston North in 1978, has been sold for $350 million to Australia’s Woolworths, which runs Countdown supermarkets in New Zealand. In 2007 founders Peter and Gerard Gillespie kept a majority stake when Australian private equity company Catalyst Investment Managers acquired 43.5 percent and New Zealand private equity company Direct Capital exited. Then the business had turnover in excess of $170 million and employed more than 800 staff. Now it has sales of more than $2...

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