Buddle Findlay acted in the sale of EziBuy for an undisclosed sum.
Sydney-based investment firm Alceon Group snapped up the New Zealand clothing and homeware retailer from supermarket giant Woolworths, which acquired EziBuy in 2013 from its original founders and an Australian private equity firm for $350m. Last year, Woolworths wrote off the business and decided to sell it as part of a restructure.
Alceon, which was advised by Buddle Findlay, also owns 49% of women’s fashion label Noni B and bought the Pretty Girl fashion group last year for AU$75m.
Buddle Findlay’s Steve Nightingale, lead partner on the deal, said the transaction was completed in a tight timeframe. Nightingale was assisted by a team that included senior associate Rupert Rouch and tax partner Tony Wilkinson.
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