“After several approaches from interested parties, DB Breweries, which felt that off-premise retailing was no longer core to its business, selected Foodstuffs as its preferred bidder after a competitive bidding process, believing the New Zealand owned company the most suitable to own, support and grow the nationwide liquor chain,” the company says.
Iconic alcohol retailer Liquorland has been bought by grocery co-operative Foodstuffs from DB Breweries for an undisclosed sum.
Foodstuffs said the purchase of Liquorland, a nationwide liquor chain of 70 stores, was a logical extension of its existing independently owned and operated retail brands. The co-operative operates PAK’nSAVE, New World and Four Square
“We think it’s a great fit for both the Liquorland brand and our future growth strategy,” Foodstuffs NZ managing director Tony Carter said.
DB Breweries said while Liquorland had been a profitable and important part of its portfolio, off-premise retailing was no longer core to the DB business model.
“Liquorland will be in good hands,” DB Breweries managing director Brian Blake said.
The change of ownership is effective today.
New Zealand’s two big grocery businesses are keeping mum about whether they might be interested in buying big liquor retail chain, Liquorland.
DB Breweries confirmed yesterday it is considering selling the 72-store franchised Liquorland chain after several approaches recently