Furniture and homewares retailer Freedom is reportedly being prepared for sale, for the third time since 2019.

The company’s CEO Blaine Callard will lead the preparation for the sale process, which is expected to start later this year or early next year, the Australian Financial Review reported, citing sources with knowledge of the matter. 

The business is expected to be pitched as turning over $400 million and $10 million EBITDA.

Potential buyers include Anchorage Capital Partners, which bought department store chain David Jones last year, and Allegro Funds, which acquired Freedom’s sister companies Best & Less and Harris Scarfe in 2019, the AFR added.

Founded in 2018, Freedom Furniture operates under the umbrella of Greenlit Brands. The chain has 47 stores in Australia and 12 locations in New Zealand, according to its website.

Greenlit Brands’ revenue was flat at $469.8 million for the year ending October 1, 2023, with underlying losses rising to $31.1 million.