By James Wells
ADELAIDE: The $30 million seven-store Truscotts group has left Betta Stores Retail and joined the rapidly-growing Retravision Western group which now has a substantial share of the Western Australia, South Australia and Northern Territory markets.
According to Retravision Western CEO, Paul Holt, his group is delighted to welcome the Truscotts Retail group into its South Australian-based business in an alliance designed to unlock longer term operational synergies and volume growth in the Adelaide market.
"The Truscotts brand is an icon that is trusted and valued in South Australia," Holt said this morning.
"The owners of the group, Dr. Christopher and Janine Starrs, are injecting capital and business acumen into their new acquisition and the Retravision group will provide tools and experience to support the continued development of the business."
According to Truscotts managing director, Janine Starrs, the decision to join Retravision Western was a “no brainer", highlighting "outstanding buying power, central accounting, access to a deeper pool of key suppliers and co-ordinated warehousing" to provide her business with a "real competitive advantage over our rivals".
According to Starrs, the Truscotts brand will continue to operate in its own right with Retravision providing central buying and IT services to the group in the short term.
Both parties have confirmed a committment to a longer term business review focused on profitable and sustainable business growth in South Australia under an appropriate brand model.
"This alliance builds on the Retravision Western strategy of creating a fortress for strong, independent electrical retailers in the Retravision Western region (WA/SA/NT) and provides a further brand option for independent electrical retailer currently dissatisfied with their franchise service provider, particularly those based in South Australia," Holt said.