South African GP acquires Australia's Decor

Transaction details were not disclosed. Coast2Coast invested via its consumer arm Marlin Home, which acquired another Australian homewares company, Albi, last year for at least A$50 million ($38.3 million). Decor is expected to maintain core operations in Australia while expanding its product pipeline and growing sales both domestically and in export markets.

"Almost every Australian home contains some of Decor's products, whether that's one of our match-up kitchen containers, the new Microsafe bacon cooker and steam egg poacher, hydration bottles, lunch boxes, insulated cooler bags or self-watering plant pot containers," Greg Kerr,  managing director of Marlin, said in a statement. "Decor is an iconic brand, with a strong history of innovation and is a perfect strategic fit for Marlin Home, which will build a strong portfolio of Australian brands for both inside and outside the home."

Marlin intends to acquire four additional Australian brands across the homewares, garden furniture, camping and travel accessories segments during 2017 in preparation for an ASX listing. It has also engaged Medibank's former IPO director and general manager for commercial finance, Nick Stone, as its chief financial officer. 

Founded in 1958, Decor offers a range of about 450 products, which are marketed across grocers, discount department stores, hardware stores, specialty stores and garden centers. Sales channels are based throughout Australia and New Zealand and as well as in selected Asian, US and UK retailers. The company claims to have won more than 300 Australian design awards for criteria such as utility value, technical quality, ecological soundness and overall conception.

Coast2Coast has made more than 50 acquisitions in consumer products and healthcare since 2007, investing over $1.5 billion in all. The GP prefers to take stakes of at least 80% with management retaining the balance.

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• Topics
• Australasia
• Consumer
• Buyouts
• Expansion
• Australia
• Africa