BREAKING: Teoh Capital is thinking about making a big splash in Australia’s retail sector with the acquisition of 184-year old retailer David Jones.
Michael Quelch
It would be a stunning investment for Teoh Capital, which is a specialist software and technology investor and usually invests in software-as-a-service companies, but has recently shown more appetite for longstanding brands. The talks come as David Jones’ owner, South Africa’s Woolworths, consider selling David Jones after eights years in its stable.Woolworths paid more than $2 billion for the group in 2014, only to take write-downs worth more than, and sold most of the retailer’s flagship properties to ease financial strain.
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