By Sarah Falson
MELBOURNE: Clive Peeters’ acquisition of Berryman’s Electrical in Bunbury, a former Betta Stores outlet, has been finalised, according to a notice sent to suppliers.
“This completes Clive Peeters’ seventh acquisition in less than 18 months, which has contributed 22 stores to our Group,” said Clive Peeters general manager for buying, Chris Gerdes, who also said the Group will continue to look for additional suitable acquisitions to enhance both the company’s Clive Peeters and Rick Hart brands.
Clive Peeters calls its stream of acquisitions an “aggressive expansion programme,” which follows a $15 million expansion by the group in Western Australia in September last year.
The seven acquisitions include the Rick Hart Group in Western Australia and the Michael King store in Victoria in September 2005, the Mornington Bulk store in Victoria, three Megamart stores in Western Australia, and three Betta Electrical stores in Victoria.
Last week Current.com.au reported that Clive Peeters had conditionally acquired the Bunbury store, which will commence trading this Friday 9 March under the Rick Hart banner.
Clive Peeters Limited managing director, Greg Smith, said, “This is an exciting acquisition for us, providing the Rick Hart Division with its second regional store in Western Australia.
“The store has only recently been enlarged and refurbished, and will require very little capex investment,” Smith said.
In December 2005, the 950-square metres Berryman’s Betta Electrical and Gas became one of the flagship stores for the former BSL group which it grew to become a 1350-square metre Bunbury Betta Electrical Superstore.
“Our buyers will be in touch with you to discuss the core range and place display orders and back up stock requirements, as per our trading agreements,” said the latest notice sent to suppliers.
“In addition to this, if you could put your minds to any products we could use for store opening specials, this would be appreciated.”