Officeworks for sale as Wesfarmers looks to cash in
Retail giant Wesfarmers is looking to sell Officeworks through a trade sale or a stock market float, the conglomerate has announced.
Wesfarmers managing director Richard Goyder said the company had started a strategic review of the stationery and office supplies chain, which it acquired in 2007.
Earnings in the business had doubled since 2009 and Officeworks was delivering a 13.9 per cent return on capital, Mr Goyder said, making it the right time to capitalise on the turnaround.
"Officeworks is well positions for future growth with a strong competitive position and ongoing initiatives to grow its addressable market," he said. Sydney Morning Herald – Read more…
Wesfarmers managing director Richard Goyder said the company had started a strategic review of the stationery and office supplies chain, which it acquired in 2007.
Earnings in the business had doubled since 2009 and Officeworks was delivering a 13.9 per cent return on capital, Mr Goyder said, making it the right time to capitalise on the turnaround.
"Officeworks is well positions for future growth with a strong competitive position and ongoing initiatives to grow its addressable market," he said. Sydney Morning Herald – Read more…
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