Postie

Postie
FormerlyPostie Plus
IndustryRetail
Founded1909 (1909) in Reefton
FounderThomas Dellaca
Number of locations
61 stores (2022)
ProductsClothing
OwnerBest & Less Group
Websitepostie.co.nz

Postie, formerly Postie Plus, is a New Zealand clothing store chain. It was founded in 1909 by Thomas Dellaca. As of October 2022, Postie has 61 stores as well as an online platform.[1] Together with Australian retailer Best & Less, it forms the Best & Less Group.

History

Postie was founded in 1909 by Thomas Dellaca as a boot repair shop near Reefton.[2]

The Postie Plus Group purchased the Arbuckles manchester chain in 2003 for NZ$9.5 million.[3] In September 2003, Postie Plus was floated on the New Zealand stock exchange.[4]

In January 2009, Jan Cameron purchased Arbuckles from Postie.[5] In April 2012, Postie Plus sold its Babycity chain of stores.[6] In January 2014, the company sold its SchoolTex uniform brand to The Warehouse Group for NZ$9 million.[7]

In June 2014, the company was placed in voluntary administration.[2] In July 2014, South African investment company Pepkor acquired Postie.[8] Steinhoff Asia Pacific (later renamed Greenlit Brands) obtained Postie when it acquired Pepkor in November 2014.[9][10][11]

In November 2019, private equity firm Allegro Funds acquired Postie from Greenlit Brands.[12]

References

  1. ^ "Annual Report 2022" (PDF). Best & Less Group. 21 October 2022. p. 1. Retrieved 22 April 2023.
  2. ^ a b Meier, Cecile; Steeman, Marta (8 June 2014). "How Postie went from Plus to minus". Stuff. Retrieved 22 April 2023.
  3. ^ "Arbuckles to shut doors". Stuff. 31 January 2009. Retrieved 23 April 2023.
  4. ^ Dunn, Sarah (5 July 2019). "Back in time: Postie celebrates 110 years in business". The Register. Retrieved 23 April 2023.
  5. ^ "Jan Cameron buys Arbuckles". Stuff. 31 January 2009. Retrieved 23 April 2023.
  6. ^ "Postie Plus to sell Babycity chain". NZ Herald. Retrieved 23 April 2023.
  7. ^ "Warehouse buys school uniform business from Postie Plus". NZ Herald. Retrieved 23 April 2023.
  8. ^ "South Africa's Pepkor buys troubled NZ retailer Postie Plus". Reuters. 18 July 2014. Retrieved 22 April 2023.
  9. ^ Bray, Chad (25 November 2014). "Steinhoff International to Buy Pepkor of South Africa for $5.7 Billion". DealBook. Retrieved 22 April 2023.
  10. ^ Powell, Dominic (19 November 2019). "Best & Less, Harris Scarfe back in Australian hands". The Sydney Morning Herald. Retrieved 22 April 2023.
  11. ^ Blake, Dean (28 September 2018). "Steinhoff Asia Pacific rebranding Greenlit". Inside Retail. Retrieved 22 April 2023.
  12. ^ Shaw, Aimee (21 November 2019). "Postie sold to Australian private equity firm Allegro". NZ Herald. Retrieved 22 April 2023.