Australia's Catalyst exits EziBuy to Woolworths for $274m
Catalyst Investment Managers has exited Australia and New Zealand apparel and homeware retailer EziBuy to Woolworths for NZ$350 million ($274 million). The PE firm bought a 43% stake in EziBuy six years ago for an enterprise valuation of NZ$200 million, partnering with the company founders and management, who are also now selling to Woolworths.
EziBuy completed the bolt-on acquisition of New Zealand women's apparel retailer Max Fashions in 2008 for approximately NZ$80 million. This business is not being sold to Woolworths, so Catalyst has yet...
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