Plot thickens in book chain sale
Dymocks is now said to be interested in buying Borders.
Dymocks is now said to be interested in buying Borders.
Whitcoulls' plans to buy all the Borders stores in New Zealand and Australia are by no means a sure thing, with Australian book chain Dymocks now emerging as another serious contender.
Although Dymocks Group chief executive Don Grover will not confirm that his company has its hat in the ring - KPMG, which is handling the Borders sale, is frowning on companies talking to the press about their intentions - he says if Dymocks is looking at the deal, it will be the better company to buy Borders as far as New Zealand is concerned.
"It would strengthen the level of competition in the market rather than place more into the dominant hands," he says.
Although Dymocks Group chief executive Don Grover will not confirm that his company has its hat in the ring - KPMG, which is handling the Borders sale, is frowning on companies talking to the press about their intentions - he says if Dymocks is looking at the deal, it will be the better company to buy Borders as far as New Zealand is concerned.
"It would strengthen the level of competition in the market rather than place more into the dominant hands," he says.
The application to purchase Borders, being considered by the Commerce Commission, would trigger "quite a bit of public debate", he says.
"In New Zealand it would potentially give us that growth that we have been looking for."
There are 20 Borders stores in Australia and four in New Zealand. Dymocks has five stores in New Zealand, and will have seven by the end of the year, plus another couple in the new year. It is aiming for 20 stores within five years.
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