Pacific Brands Limited announced that it has entered
into an agreement to acquire the Bedwares Division and the Everwarm, polypropylene thermals, and Survival, merino apparel businesses of Arthur Ellis Limited. Completion is expected to occur on 30 November 2005.
Arthur Ellis is one of New Zealands oldest companies and owns a number of highly recognised brands including Fairydown, Everwarm, and Survival Merino.
The Everwarm / Survival Merino business supplies and distributes thermalwear to major retailers in New Zealand and other export markets.
A Pacific Brands spokesman said, “The acquisition of the Bedwares Division
provides Pacific Brands with a leading bedding accessories business in New
Zealand that complements the recently acquired Sheridan business. It also
provides our Tontine brand with a platform and infrastructure to expand into
the New Zealand market.
“The Fairydown brand, one of New Zealands most recognisable brands, also
has a significant opportunity to grow and we look forward to replicating this
success in the Australian market,” he said.
“The acquisition of the Everwarm / Survival Merino business further
strengthens our branded position in the thermalwear market, and leverages
the manufacturing, sourcing and distribution scale of our New Zealand
clothing business.”
Pacific Brands will pay approximately NZ$13.2 million for the businesses. It
will be financed through existing debt facilities and will include all the staff,
assets and intellectual property of the Businesses. The Businesses are
based in Christchurch, New Zealand.
