Briscoe Group has turned its sights toward acquiring online retail businesses.
Rod Duke, managing director of Briscoe Group, which operates Rebel Sport, Briscoes and Living & Giving, said the company is not quite as keen as New Zealand’s biggest listed retailer, The Warehouse, to get into online business. The Warehouse has invested in the online stores Torpedo7 and pet.co.nz.
“It’s something we could look at,” Duke said. “(Online) is an interesting place to be.”
Duke refrained from giving any clues about any specific online businesses Briscoe might be interested in buying or when it might make those purchases.
“What I can say is if we were to buy a business it would play to our core competency (of high-volume consumer goods),” he said. “I don’t have any desire to get into a range of businesses that some people might think that we can operate in.”
Duke said that Briscoe would increase cash reserves in the current financial year from the $78 million it had at the end of January.
“We haven’t had any debt for 15 years,” he added.
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Tags: Briscoe, Briscoes, Living and Giving, New Zealand, Rebel Sport, The Warehouse
