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Wesfarmers finalises Pac Brands deal

 

hard yakka pac brands Wesfarmers has finalised the acquisition of Pacific Brands’ workwear business for $180 million.

More than 1000 employees from the workwear business, which makes Hard Yakka, KingGee, and Stubbies, will move across to the Perth-based conglomerate.

It comes a fortnight after the Australian Competition and Consumer Commission (ACCC) announced it would not oppose the sale of the struggling brands to Wesfarmers, which owns supermarket giant, Coles.

Pacific Brands workwear supplies uniforms to leading airlines, financial service providers and other large corporates in the UK and defence and emergency services customers in Australia and New Zealand.

Earlier this month, Pacific Brands sold a range of its shoe and clothing brands, including Volley, to several buyers for $39 million.

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