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Dick Smith sells online store to Kogan
A boutique and a global advised on Kogan.com's acquisition of embattled retailer Dick Smith's online business.
Stefanie Garber
Firms: Arnold Bloch Leibler (ABL) (Kogan.com); Norton Rose Fulbright (Ferrier Hodgson)
Value: Confidential
Area: Corporate and commercial
Key players: The team from ABL was headed up by partners Jeremy Leibler and lawyer Justin Hansky from the Melbourne office.
Deal significance: Australian electronics giant Dick Smith went into receivership in January, with Ferrier Hodgson appointed as receivers. The store announced in February that its 363 brick and mortar stores in Australia and New Zealand would close after receivers were unable to secure a buyer.
However, following this acquisition, Kogan.com will operate the Dick Smith online business in Australia and New Zealand.
Kogan.com is Australia’s largest pureplay online retailer, according to ABL.
The acquisition signals a continuation of the iconic Dick Smith brand, ABL partner Jeremy Leibler suggested.
“There is no question that Kogan.com, an Australian success story in its own right, is best equipped to resurrect and take this iconic Australian business into the 21st Century," he said.
