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Publicly listed brand house McPherson’s has acquired the remaining minority shares in Home Appliances, owners of the Euromaid, Fagor and IAG brands, among others. McPherson’s first entered the Australian appliance industry by investing in Home Appliances in 2013.
As a result of this acquisition, Owen Morgan has exited the business and Stephen Rorie has been appointed the division’s new chief executive officer.
Morgan said the future was bright for McPherson’s appliance business, which also included the Baumatic, Lemair and Venini brands.
“The timing is right for Home Appliances to move on to the next exciting stage of its development and continue its strong growth as a key player in the appliance industry,” Morgan told me. “It has been a pleasure to be involved in the industry and to see our strategic goals being successfully implemented.
“The exciting pace and development of new product will be maintained and new launches will continue over the coming months. I would like to thank all of the team for their huge efforts and wish them all the very best as they continue on this journey.”
Stephen Rorie joins the Home Appliances team from the Super Amart and Barbecues Galore retail group, where he was the chief operating officer. He has spent the past few months being inducted into Home Appliances so that he can immediately continue the work of his predecessors.
“I have greatly appreciated the opportunity to work closely with Owen (and fellow founding partners) Michael Hall, Theo Varvaressos, and the team,” Rorie told me. “Home Appliances has a significant presence in the Australian market and I am looking forward to building on the good work already done and continuing to grow the business.”
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