Mothercare completes stake buy in franchisee

1st Oct 2010 07:04

Mothercare, the retailer focused on the baby and toddlers market, has received approval for its acquisition of a 25% stake in its Australian franchisee.The deal to acquire a quarter of the shares (plus one share) in Headline Group, announced on 16 July, has been approved by the Australian company's shareholders.Headline currently operates 6 Mothercare and 27 Early Learning Centre stores in Australia. It recently announced the acquisition of the Babies Galore and Baby on a Budget retail businesses in Australia, which now gives it a significant national store footprint.Headline intends to convert these acquired businesses to the Mothercare and Early Learning Centre (ELC) formats, building towards a chain of at least 60 Mothercare (ELC) stores in Australia by 2012/13.