Macpac says it plans to significantly expand its product range and retail footprint under its new owners.
This week it was announced the business will be acquired by Australian retail group Super Retail for $144 million. The acquisition will take effect on March 31.
Macpac marketing manager Nadia Scott said Macpac would continue to be based in Christchurch and staff were positive about the move.
“Super Group have expansive growth plans for Macpac, which they intend to realise over the coming years,” she said. “This is very exciting for both staff and customers as the new investment in the company will see a step-change in all areas of business operations.
“The great news for Macpac customers is that the product range will grow in both breadth and depth.”
The decision to sell was made after the Australian private equity group that owns Macpac, Champ Ventures, decided to divest in the business.
It had been looking to sell the business since late 2017.
“Champ have been extremely supportive of Macpac’s ambitions and have provided the environment and strategic backing for the company to achieve sustained growth, while allowing the business to remain operationally independent and true to its Christchurch roots.
“Super Group were one of several parties bidding to purchase Macpac, and ultimately were the successful bidder.”