PERTH, Australia, 2014-12-1 — /EPR Retail News/ — The acquisition of the Workwear Group of Pacific Brands Limited (ASX:PBG) by Wesfarmers Industrial and Safety (WIS) has been completed.
The acquired business has a suite of iconic industrial workwear brands, including Hard Yakka, KingGee and Stubbies, and supplies uniforms and imagewear to leading airlines, financial service providers and other large corporates through NNT and Incorporatewear (UK), as well as supplying defence and emergency services customers in Australia and New Zealand.
Wesfarmers Managing Director Richard Goyder welcomed the completion of the acquisition, along with the 1000 new employees in five countries who join the Wesfarmers Group today.
WIS Managing Director Olivier Chretien said a transition period would now commence, including strengthening the Workwear business and establishing a platform for future growth.
“Wesfarmers Industrial and Safety looks forward to bringing together its customer relationships, distribution channels and industrial workwear offer with these new leading brands to deliver growth, an expanded offer to customers and development opportunities in new markets,” Mr Chretien said.
Wesfarmers announced on 26 August 2014 that Wesfarmers Industrial and Safety had entered into an agreement to acquire the Workwear Group for $180 million. The Australian Competition and Consumer Commission advised on 20 November 2014 that it would not oppose the acquisition.
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