Wesfarmers acquires online retailer Catch for about USD 160 mln

Wednesday 12 June 2019 14:49 CET | News

Wesfarmers has announced it is buying ecommerce retailer Catch for about USD 160 million to boost the small online footprint of its retail units such as Kmart and Target.

Wesfarmers’ third M&A push in 2019 comes as it looks to widen its base from traditional brick-and-mortar retail business and as domestic retailers battle to keep customers from switching to the likes of online giant Amazon.

The company, which now has 217,000 employees, sold out of coal mining in 2018. It has looked to expand into high-tech minerals, with plays for lithium miner Kidman Resources and rare-earth producer Lynas Corp.

Catch Group, formerly Catch Of The Day, started in 2006 and offers discounted deals on brands such as Nike and Armani Jeans. Catch Group will operate as an independent business unit.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Wesfarmers, acquisition, Catch, online retailer, Australia
Countries: World