Godfreys back on track

  The Godfreys vacuum chain has been revived after a period in the hands of private equity firm, Pacific Equity Partners (PEP). Founded during the great depression by Godfrey Cohen in Chapel St, Prahran, in Melbourne, the retail chain was sold in 2006 to a 50/50 joint venture of PEP and CCMP Capital Asia for more than $300 million. It had 151 stores when the sale was completed, two years after Cohen died. PEP, which lost its investment in book chains Borders, Whitcoulls, and Angus & Rob

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