Anchorage buys Dick Smith Electronics from Woolworths
Anchorage Capital Partners will buy Australian supermarket chain Woolworths’ Dick Smith Electronics unit for an initial A$20 million ($18 million) plus a share of any upside resulting from the private equity firm exiting the asset. The divestment comes after a strategic review concluded that the business was non-core in the size and context of the broader Woolworths retail platform.
The company also plans to sell its Indian wholesale joint venture to Tata Group-owned Infiniti Retail for A$35 million, completing a full departure from the consumer electronics segment. Woolworths' and...
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