Woolworths sells EziBuy for undisclosed sum to Sydney investment firm Alceon

Mon, 26 Jun 2017

By Paul McBeth June 26 (BusinessDesk) - ASX-listed supermarket chain operator Woolworths has sold New Zealand clothing and homeware retailer EziBuy for an undisclosed sum to Sydney-based investment firm Alceon Group. Woolworths decided to quit the EziBuy in the middle of last year when it wrote off A$309 million of the business and had since sold it to Alceon. Woolworths bought EziBuy for NZ$350 million in August 2013 from founders Peter and Gerard Gillespie and Australian private equity firm Catalyst Investment Managers. "Woolworths...

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