The Sydney Morning Herald reports that Dymocks is understood to be planning a bid for the Australian and New Zealand business of US book retailer Borders Group. The move will pitch Dymocks against local private equity player Pacific Equity Partners, which owns Angus & Robertson, as well as Borders Australia’s management team, led by managing director John Campradt, which is also thinking of bidding.
Dymocks, the #2 Australian retailer behind Angus & Robertson, holds 17-18 per cent of Australia’s $1.2 billion book retailing market, which excludes sales in tertiary institutions and book clubs. It has more than 84 stores, most of which are franchised, in Australia, New Zealand and Hong Kong.
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