Wesfarmers has entered into an agreement to acquire Australian online retailer Catch Group for $230 million.
Catch Group’s online operations are supported by two fulfilment centres located in Victoria.
“Catch Group has a high calibre management team and a leading e-commerce platform with quality fulfilment assets. This acquisition represents an opportunity to accelerate Wesfarmers and Kmart Group’s digital and e-commerce capabilities whilst continuing to invest in the unique customer and supplier proposition provided by Catch Group,” Rob Scott, Managing Director, Wesfarmers said.
Subject to completion of the transaction, Catch Group will operate as an independent business unit, under the oversight of Ian Bailey, the Managing Director of Kmart Group.
Kmart Group Managing Director Ian Bailey said Catch had built a successful first-party and fast-growing marketplace business underpinned by a leading technology platform and data capabilities.
“We are excited to work with the Catch team and look forward to leveraging our capabilities to grow the business and accelerate the customer-driven, omni-channel initiatives across Kmart and Target,” Ian Bailey said.
“This will further drive best practice in supply chain, fulfilment and online execution across our brands, including opportunities for Target to secure online fulfilment capacity and productivity benefits. Catch will also benefit from the support of Kmart Group’s scale and capabilities to drive its continued growth in its existing marketplace business,” Ian continued.
Nati Harpaz, Managing Director and CEO of Catch Group said the Catch team was looking forward to becoming a part of the Wesfarmers Group and working with the Kmart Group for the benefit of Catch’s business partners and customers.
“Catch will continue to deliver innovation in the online market in Australia, with the focus of delivering great value and savings to our customers,” Nati said.