Woolworths serves up Thomas Dux chain

 In Australia, NewZealand, Woolworths
Food and liquor retailer Woolworths has started selling non-core assets, offering its Thomas Dux stores for sale less than a year after the 10-store gourmet food chain became profitable.
While Woolworths is keen to develop its small urban store format, industry sources said Woolworths had put Thomas Dux up for sale earlier this year, asking between $10 million and $20 million and seeking expressions of interest from trade buyers and private equity investors.
Woolworths declined to confirm or deny whether Thomas Dux was on the market, and Woolworths’ head of mergers and acquisitions, Brent Merrin, who is said to have been handling the sale, was unable to comment.
Woolworths opened its first Thomas Dux store in Lane Cove in Sydney in 2008 and increased the number of stores from three to 12 in 2009 after buying Macro Wholefoods for around $20 million.  Sydney Morning Herald – Read more…

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