To boost online operations.
Wesfarmers has purchased online retailer, Catch.com.au for $230 million. The acquisition, which is subject to approval by competition regulators, will operate as an independent business.
“The acquisition would boost Wesfarmers’ and Kmart Group’s digital and ecommerce capabilities,” Wesfarmers managing director, Rob Scott said, “whilst continuing to invest in the unique customer and supplier proposition provided by Catch Group.”
Kmart managing director, Ian Bailey, will oversee Catch Group operations. “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,” he said.
The number of active Catch Group customers is said to have increased to 1.2 million, representing growth of 50 per cent year-on-year. First quarter results for FY 2019 with gross transaction value reached $99.39 million, an increase of 72.9 per cent on the previous corresponding period. Catch now offers in excess of 1.9 million SKUs via the marketplace platform. New warehouse facilities opened at Truganina, Melbourne earlier this year.
Catch will join Bunnings, Target and Officeworks under the Wesfarmers umbrella.