Wesfarmers has continued its post-Coles spending spree with the $230 million acquisition of online retailer Catch Group… better known as Catch of the Day.
The Perth-based conglomerate said that Catch of the Day would be an independent unit, albeit under the oversight of Kmart Group managing director Ian Bailey.
“This acquisition represents an opportunity to accelerate Wesfarmers and Kmart Group’s digital and e-commerce capabilities whilst continuing to invest in the unique customer and supplier proposition provided by Catch Group,” Wesfarmers managing director Rob Scott said.
Wesfarmers own Bunnings and Officeworks and recently disbanded Coles into a separate entity.
Mr Bailey indicated that he would use insights from Catch’s technology platform and data capabilities to boost Wesfarmers’ other retail operations.
“We are excited to work with the Catch team and look forward to leveraging our capabilities to grow the business and accelerate the customer-driven, omni-channel initiatives across Kmart and Target,” Mr Bailey said.
– with AAP