The Good Guys considers ASX listing

The Good GuysThe Good Guys has appointed external advisers, including Helfen Corporate Advisory as independent financial adviser, to explore a future initial public offer and listing on the Australian Securities Exchange.

“This is the next logical step in the evolution and growth of The Good Guys,” chairman, Andrew Muir, said.

“Over the past five years we’ve moved toward a more centralised and corporatised business model to remove the constraints to the growth of our business.

“We are now ideally placed to pursue our growth plans and a new ownership structure will provide greater access to capital and new opportunities.”

In October 2015 the family-owned retailer announced it was scrapping its joint venture model which was established in the 1980s. At the time almost half of the 100 bricks and mortar stores that made up The Good Guys store network were corporately owned and managed. It is anticipated that by mid-2016 all stores will be company owned.

The ownership restructure centralised core functions including buying and support services.

“We need to move to a new structure that is more relevant for modern retailing and will better support our customers and future growth objectives,” Muir said at the time.

The Good Guys has annual sales of approximately $2 billion and more than 4000 employees.

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