Headline Group Limited (HLD), which operates the Mothercare and Early Learning Centre franchises in Australia and New Zealand, has announced the acquisition of Australian retailer Babies Galore for AUD$8.8m (US$8.4m).
The deal includes Babies Galore’s inventory, store fixtures and fittings, customer database and online store.
Headline expects to integrate the Babies Galore stores into Mothercare Australia operations.
Headline also announced that the Myer Family Company and Allegro Private Equity have each invested $5m into HLD, to aid the transaction and store conversions.
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