AUSTRALIA: Country Road completes Witchery acquisition
By Katie Smith | 2 October 2012
Country Road has completed its acquisition of Australian clothing retailer Witchery Group from Gresham Private Equity.
The deal, which was announced at the beginning of August, is worth A$172m (US$181m), and includes the Witchery and Mimco brands.
Executive changes as a result of the acquisition will see Witchery Group CEO Iain Nairn take up the role as chief executive officer of Country Road, replacing Howard Goldberg who is leaving the company. Country Road CFO David Thomas has been appointed as COO, while Witchery Group CFO Oliver Kysela will now serve as CFO of Country Road.
Country Road
2 October
Statement to the Australian Securities Exchange
Completion of Acquisition of Witchery
Further to the announcement on 1 August 2012, County Road Limited is pleased to confirm that it has today completed the acquisition of the Witchery Group. As a result, the appointment of Iain Nairn as the Chief Executive Officer of County Road and the other senior executive and Board appointments announced on 1 August 2012 are effective immediately.
Original source: County Road Limited
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