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BB Retail buys Adairs, soft furnishing retailer
10 Dec '07
2 min read
BB Retail Capital (BBRC) announced that it has acquired leading manchester retailer Adairs in partnership with the company's existing executive management team.
Adairs is Australia's leading national specialty manchester and soft furnishing retailer, which operates 90 stores nationally.
Its six retail formats include Adairs, Adairs Homemaker, Adairs Outlet, Adairs Online, Adairs Kids and Urban Home Republic.
The company has been majority owned by the MacLean family for over 21 years. BBRC's CEO – Equity, Patrick Michel, said that Adairs is a trusted brand in the market place, recognised for its outstanding customer service, product offering and quality. “Adairs is exactly the sort of opportunity BBRC is looking for,” he said.
“The company's strong track record of revenue growth and profitability, combined with its driven management team and significant growth prospects, represent a very attractive investment for BBRC.
“We will support the executive management team of David MacLean, Michael Cherubino and Andrew McLean and continue to grow the Adairs and Adairs Homemaker store network.
“We are also very excited about the potential of the recently launched Adairs Kids and Urban Home Republic retail formats and the opportunities for BBRC to add value.” CEO of Adairs, David MacLean is equally optimistic about Adairs' future prospects.
“We are delighted to have teamed up with such an experienced and industry focused partner. It is a truly exciting future,” Mr MacLean said.
Exiting majority owner John MacLean, said that he was particularly pleased with the interest Adairs had generated in the market and was very proud to see the business transition into its next phase of growth.
Adairs is Australia's leading national specialty manchester and soft furnishing retailer, which operates 90 stores nationally.
Its six retail formats include Adairs, Adairs Homemaker, Adairs Outlet, Adairs Online, Adairs Kids and Urban Home Republic.
The company has been majority owned by the MacLean family for over 21 years. BBRC's CEO – Equity, Patrick Michel, said that Adairs is a trusted brand in the market place, recognised for its outstanding customer service, product offering and quality. “Adairs is exactly the sort of opportunity BBRC is looking for,” he said.
“The company's strong track record of revenue growth and profitability, combined with its driven management team and significant growth prospects, represent a very attractive investment for BBRC.
“We will support the executive management team of David MacLean, Michael Cherubino and Andrew McLean and continue to grow the Adairs and Adairs Homemaker store network.
“We are also very excited about the potential of the recently launched Adairs Kids and Urban Home Republic retail formats and the opportunities for BBRC to add value.” CEO of Adairs, David MacLean is equally optimistic about Adairs' future prospects.
“We are delighted to have teamed up with such an experienced and industry focused partner. It is a truly exciting future,” Mr MacLean said.
Exiting majority owner John MacLean, said that he was particularly pleased with the interest Adairs had generated in the market and was very proud to see the business transition into its next phase of growth.
Brazin Limited
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