A&R Whitcoulls Group Holdings Pty Limited (Angus & Robertson, Whitcoulls and Calendar Club) is to form a joint venture with the owners of Supanews which will purchase the business of Supanews. The new business, Supanews retail, will operate the Supanews retail stores and newsagent franchise group.
A&R Whitcoulls is owned by Pacfic Equity Partners.
This is a significant move by a successful corporate player into the newsagent space. I’ll be curious to watch as the impact of the takeover emerges. Supanews has caused considerable upset among newsagents in its pursuit of retail real-estate. There has been talk of disappointment by some franchisees. I know the Bayside Frankston shop switched from a franchisee operated business to corporate over the weekend.
Margin in newsagencies is tight and this makes the traditional franchise model challenging.
Update: (4/10) I have received advice that the takeover has not yet proceeded. An announcement is expected tomorrow.
Mark, you are ill advised about the Bayside store; it is still franchised.
Also… the Supanews management team will stay the same; it is still run by Adrian Gaskin. Don’t expect too many changes, other than a more cashed-up corporation.
Phillip, I am wrong about Bayside for the moment. There is a delay in it reverting from a franchise store to a corporate store. On Adrian Gaskin, he’s not listed as a shareholder or dirctor fo Supanews Retail Pty Ltd so I am not sure of his status going forward. Mark
Adrian is the managing director and will most definitely form part of the board, as will Patrick Gaskin… And Adrian controls 49% of the new entity.
re. Bayside, maybe you should ask your “source” if it is really a “delay” and what brought it about. I suspect a truthful answer it may not confirm your hypothesis about Supanews’ fault.
ASIC records did not show Adrian as the Managing Director nor Patrick Gaskin as of late yesterday. On Bayside, I have not laid blame.