Pacific Brands inks deal with NZ bedding businesses
11 Dec '07
2 min read
The acquisition of our New Zealand Foams, Flooring and Bedding businesses provides Vita with the additional scale needed to increase their competitiveness in the face of direct import challenges. This makes the transaction of benefit to all stakeholders.
Ms Morphet also said that Pacific Brands has no plans to sell its Foams, Flooring or Bedding businesses in Australia.
The final transaction is subject to a number of conditions including the approval of the New Zealand Commerce Commission. Final details will be released once these matters are settled and the transaction completed. The parties anticipate that the transaction will be completed early in the New Year.
Pacific Brands' commitment to market leadership has provided it with number one or two positions across its major product categories in Australia and New Zealand which include underwear, socks, intimate apparel, hosiery, footwear, workwear, casualwear, bedding, bedding accessories and foams.
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