Home > Latest News > Jaycar Hunts For New Owner

Jaycar Hunts For New Owner

Australian electronics giant Jaycar has brought in investment bankers to help it land a takeover deal that could be worth north of half a billion dollars.

The Australian is reporting that Barrenjoey Capital’s bankers have “started confidentially shopping the business to private equity firms and other big Australian and offshore retailers”, with the goal of luring a number of potential purchasers for an auction.

Super Retail Group, and Wesfarmers are expected to be amongst the big bidders.

The winning buyer would take over more than 140 Jaycar and Road Tech Marine stores.

The sale will follow last year’s death of Gary Johnston who founded the company in 1981. The company reported $315 million sales and a $172.9 million gross profit during the 2021 financial year.

 



You may also like
Serious Questions Raised After Woolworths Splashes The Cash For MyDeal
JB Hi Fi Set Top Bid For Another Retailer
Woolies, Wesfarmers CEOs Want Local Production, Skilled Migration
Aussie Retail Union Calls For Wage Rise
Wesfarmers Launches OnePass Across Kmart, Target, Catch