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Steinhoff Asia Pacific
Greenlit Brands, formerly Steinhoff Asia Pacific Group, is the Australian subsidiary of Ibex Topco B.V. It owns the furniture retailers Fantastic Furniture and Freedom Furniture . History Steinhoff International acquired South African company Pepkor in November 2014. In October 2016, Steinhoff Asia Pacific announced it would acquire Fantastic Holdings for . Fantastic Holdings included the chains Fantastic Furniture, Plush, Le Cornu and Original Mattress Factory. In September 2018, Steinhoff Asia Pacific rebranded as Greenlit Brands to distance itself from the controversy surrounding its parent company. In November 2019, Greenlit announced it would sell its entire general merchandising division to private equity firm Allegro Funds. The deal included Best & Less, Harris Scarfe and Postie. In October 2021, Greenlit sold its Plush sofa business to Nick Scali Furniture for $110 million. In June 2022, Greenlit sold its Original Mattress Factory retail business. In April 2023 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subsidiary
A subsidiary, subsidiary company, or daughter company is a company (law), company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidiary company. Unlike regional branches or divisions, subsidiaries are considered to be distinct entities from their parent companies; they are required to follow the laws of where they are incorporated, and they maintain their own executive leadership. Two or more subsidiaries primarily controlled by same entity/group are considered to be sister companies of each other. Subsidiaries are a common feature of modern business, and most multinational corporations organize their operations via the creation and purchase of subsidiary companies. Examples of holding companies are Berkshire Hathaway, Jefferies Financial Group, The Walt Disney Company, Warner Bros. Discovery, and Citigroup, which have subsidiaries involved in many different Industry (e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Steinhoff International
Steinhoff International was a multinational corporation, multinational holding company that was dual listed in Germany and South Africa. It was officially delisted in October 2023. Its holdings were in the retail sector, primarily in furniture and household goods, and included a 43,8% stake in South Africa's Pepkor group. The company operated in Europe, Africa, Asia, the United States, Australia, and New Zealand. It was well known for an Accounting scandals, accounting scandal which led to criminal charges against its former chief executive, Markus Jooste. History Steinhoff was founded in 1964 by Bruno Steinhoff in Westerstede, Germany. Bruno Steinhoff sourced furniture from Communism, communist countries in Europe, for resale in Western Europe. In 1997, Steinhoff acquired 35 per cent of Gommagomma, a furniture company based in South Africa, and prepared for a Mergers and acquisitions, merger the following year. The company moved its headquarters to South Africa in 1998, attra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fantastic Furniture
Fantastic Furniture is an Australian owned and operated furniture retailer. It is a subsidiary of Greenlit Brands. History Fantastic Furniture started as a market stall at Sydney's Parklea Markets in 1989, by friends Paul Harding and Jonathan De Jong, selling outdoor furniture. Two years later, the first Fantastic Furniture public store opened at Birkenhead Point. In 1992, the Fantastic Lounge Factory opened and started production of Australian made sofas and lounges for Fantastic Furniture. Today, the Sydney-based factory is the largest manufacturer of sofas in the Southern Hemisphere and produce and deliver over 130,000 sofas and lounges each year. In the following years, the business could not keep up with the demand and in 1996 it went into administration. The business was subsequently acquired by Peter Brennan, Peter Draper and Julian Tertini and underwent a restructure. Over the next few years a number of Fantastic Furniture stores opened across NSW. In 2006, Fantasti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Freedom Furniture
Freedom is a furniture and homewares retail chain in Australia and New Zealand. It is owned and operated by Greenlit Brands. History Freedom was founded in 1981 in Sydney by Warren Higgs. Its first Melbourne store opened in 1984. Freedom was purchased by investment company Jamison Equity in July 1991. In 1996, Freedom went public on the Australian Securities Exchange. The same year, it expanded to New Zealand through local franchisee Farmers Deka. In April 1999, Freedom acquired the Guests and Andersons furniture chains for $22.4 million in cash and stock. In 2000, it acquired bedding company Capt'n Snooze. In 2002, the company acquired the Bayswiss homewares chain. In 2003, Freedom was bought out and taken private by management in a deal backed by Steinhoff International, the company's supplier and largest shareholder. In 2004, Freedom entered the UK market through a management and supply agreement with Cargo Homeshop, a furniture and homewares with 36 stores at the tim ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pepkor
Pepkor is a South African-based investment and holding company focused on the discount and value consumer retail and fintech markets. The majority of operations are in South Africa, and operations extend to other African countries and Brazil. It manages retail brands, selling predominantly clothing, footwear, and homeware products, in addition to household furniture, appliances, consumer electronics, and building materials. Its retail brands include PEP, Ackermans, Shoe City, Dunns, Tekkie Town, Refinery, S.P.C.C, CODE, Bradlows, Rochester, Sleepmasters, Incredible Connection, HiFi Corp, and BUCO. Its fintech operations provide financial and telecommunications services to customers in the formal and informal markets. Its Flash business supports 200 000 small-business traders in the informal market. Pepkor`s internally developed PAXI parcel delivery service very effectively leverages its expansive retail store footprint. History The company was founded in 1956 by Renier van R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nick Scali Furniture
Nick Scali Limited is a publicly listed Australian company that imports and retails furniture such as lounge suites, dining tables, coffee tables, chairs, and entertainment units. It was founded in 1962 by Nick D. Scali. . NickScali.com.au |
LK Group
Valarie "Larry" Kestelman (born 1966) is an Australian billionaire property developer and businessman. He co-founded internet service provider Dodo in 2001, which was bought out in 2013, and has interests in various other industries via his holding company LK Group. He is also known for his involvement in Australian basketball, including as the majority owner of the National Basketball League (NBL) since 2015. Early life Kestelman was born in 1966 in Odesa, Ukraine. His father was an electrical engineer and his mother was a gynaecologist. The family emigrated when he was 11 years old as part of a wave of Jewish immigrants leaving the Soviet Union, living for six months in Ostia, Italy, before securing Australian visas. Kestelman arrived in Australia at the age of 12, with his father finding work as a draftsman with Holden and his mother working as a laboratory assistant at a blood bank. He grew up in Melbourne's south-eastern suburbs, attending Murrumbeena High School before ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Australian
''The Australian'', with its Saturday edition ''The Weekend Australian'', is a broadsheet daily newspaper published by News Corp Australia since 14 July 1964. As the only Australian daily newspaper distributed nationally, its readership of both print and online editions was 2,394,000. Its editorial line has been self-described over time as centre-right. Mitchell, Chris (9 March 2006)The Media Report. Australian Broadcasting Company. Parent companies ''The Australian'' is published by News Corp Australia, an asset of News Corp, which also owns the sole daily newspapers in Brisbane, Adelaide, Hobart, and Darwin, and the most circulated metropolitan daily newspapers in Sydney and Melbourne. News Corp's chairman and founder is Rupert Murdoch. ''The Australian'' integrates content from overseas newspapers owned by News Corp Australia's international parent News Corp, including ''The Wall Street Journal'' and ''The Times'' of London. History The first edition of ''Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Amart Furniture
Amart Furniture (previously known as Super Amart) is an Australian founded furniture retailer with 67 stores Australia-wide. Amart was founded by John van Lieshout in 1970 in Brisbane, Queensland. Amart is currently majority owned by Australian private equity firm Quadrant Private Equity since 2016. History Original ownership (1970-2006) The company's first retail store was opened in MacGregor, Brisbane in 1970. Ironbridge Capital (2006-2016) In 2006, John van Lieshout sold Super Amart to Ironbridge Capital for A$500 million. The current CEO of Amart Furniture is Lee Chadwick, who took the position in 2014. Quadrant Private Equity (Since 2016) Quadrant Private Equity gained ownership of the retailer in 2016 in a deal valued at around A$400 million. Amart Furniture previously had its head office in Springwood, Brisbane before moving to a new head office in Rochedale Brisbane. In June 2025, Amart announced it would acquire the Freedom business. Operations Cur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Best & Less
Best & Less is an Australian retailer of clothing and household linens. As of October 2022, Best & Less has 182 stores as well as an online platform. History Best & Less was founded by Berel Ginges in January 1965, by occupying part of the ground floor of the department store "Snows" which was in the process of closing down. Prior to trading as Best & Less, the store was known as "Shenows". Best & Less officially opened their first store in Parramatta on 27 May 1965. Best & Less was known for its frugal in-store appearance, with minimal fixtures, and its advertising tagline was "You don't pay for any fancy overheads". The ads often featured Joy Muir, then president of the Australian Housewives' Association, delivering the line to cameras. In 1998, Best & Less was acquired by the South African investment company Pepkor. Steinhoff Asia Pacific (later renamed Greenlit Brands) obtained Best & Less when it acquired Pepkor in 2014. In December 2019, Allegro Funds acquired Best & Le ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Postie
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. 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. The Postie Plus Group purchased the Arbuckles manchester chain in 2003 for . In September 2003, Postie Plus was floated on the New Zealand stock exchange. In January 2009, Jan Cameron purchased Arbuckles from Postie. In April 2012, Postie Plus sold its Babycity chain of stores. In January 2014, the company sold its SchoolTex uniform brand to The Warehouse Group for . In June 2014, the company was placed in voluntary administration. In July 2014, South African investment company Pepkor acquired Postie. Steinhoff Asia Pacific (later renamed Greenlit Brands Greenlit Brands, formerly Steinhoff Asia Pacific Group, is the Australian ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harris Scarfe
Harris Scarfe is an Australian retailer that sells bed linen, kitchenware, homewares, electrical appliances and apparel. It was founded in 1849 in Adelaide, South Australia and has more than 50 stores nationally. In 2015, ownership of Harris Scarfe was transferred to Steinhoff Asia Pacific, an international retail and manufacturing conglomerate listed on the Frankfurt stock exchange. In December 2017, Steinhoff’s was accused of overstating its profits and the share price dropped by 90% The company then entered a period of intense asset sell off, which resulted in Harris Scarfe being sold to Allegro Funds in December 2019. Shortly after, Allegro put Harris Scarfe and its related entities into administration. Spotlight Group then bought the business out of administration in April 2020. History Early history Harris Scarfe traces its history to 10 February 1849, when George Peter Harris and John C. Lanyon, arrived in Adelaide, South Australia on the ship ''Candahar'' and est ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
