Marlin Brands Holdings has taken over leading homewares supplier Albi in a move to further expand into this growing sector in both Australia and New Zealand.
Marling Brands shareholder, Coast2Coast, already owns a number of successful consumer brands in South Africa, Spain and Poland and this is its first acquisition in Australia.
Managing director Greg Kerr says Albi is the perfect platform from which to build its homewares strategy.
“Our vision is to acquire a number of strong branded businesses in this sector and retain the business owners and management through the growth journey,” he explains.
“Our vision is to ultimately list Marlin Brands. In the group, we have to date partnered with over 30 business owners who have become part of the family and welcome the opportunity to partner with more business owners in Australia and New Zealand who are excited to form part of a larger, entrepreneurial group.”
Albi, which was founded in 1985 and taken over in 2000 by David Danziger and Martin Susskind, owns and represents more than 35 different brands including its own labels such as Amalfi, Davis&Waddell, Emporium and Rogue.
Danziger believes Albi and Coast2Coast are in many ways an excellent fit, which is the most important part of an acquisition, he says.
“We, at Albi, are thrilled to be joining Coast2Coast as we look ahead to being part of a new group of businesses in Australia that will complement each other and have many diverse skills,” he says. “…Our executive team have signed on… with the new group which is a huge vote of confidence.”
The acquisition was finalised in June this year with the previous owners and key management staying on for at least three years.
By Marion Gerritsen
