Case Study: Zelows Group to Strandbags Group

Case Study: Zelows Group to Strandbags Group

Zelows Travel Goods sells to a major industry player

Location: Eastern States
Targets: 1900
Responses: 33

Zelows had grown into a substantial retail group in its own right. The time had come for the Zelows brothers to retire. Divest Merge Acquire was approached via Zelows’ accountants, Marsh and Partners, to lead the divestment process. Substantial interest was attracted, with the standout player being Strandbags, itself with more than 300 stores including many in overlapping locations. The fit was ideal and the parties worked together well. A standout event was the stocktake of 46 stores on the afternoon before completion, conducted jointly by Zelows and Strandbags managers, using scanners, with the data uploaded to Strandbags’ computer system and priced all within 3 hours, remembering it wasn’t even their business! This was an astounding achievement and sets the benchmark for efficiency and cooperation.

About Zelows Group

Zelows is a major Australian personal accessories retail chain. Zelows has 46 stores, covering Australia’s eastern seaboard, from Victoria, through NSW and Queensland to Darwin.  Zelows carries a wide range of quality luggage and travel accessories, fashion handbags, men’s and ladies’ wallets, fashion accessories, backpacks, umbrellas and much more.

About Strandbags Group

Strandbags operates as a retailer of handbags, wallets, luggage, business cases and backpacks. Strandbags Group operates over 300 stores across Australia and New Zealand, and is administered from its head office in Belrose, NSW. In 1988 the company acquired Bradman Stores Limited and Hero stores in New Zealand. It also acquired the Colorado Bag Co chain of stores. The company is a subsidiary of Belgium-based Oceana International NV.

www.strandbags.com.au

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