Mosaic Brands acquisition of EziBuy

$$BDO.LiveSite.Deals.DealType$$Transaction Services
$$BDO.LiveSite.Deals.Industry$$Retail & Consumer
$$BDO.LiveSite.Deals.ClientName$$Mosaic Brands Limited

Mosaic Brands Limited (ASX:MOZ), formerly Noni B Limited, is a leading retailer of women’s apparel and accessories in Australia with brands including Noni B, Millers, Rockmans, Rivers and Katies.

On 21 November 2019, Mosaic Brands announced the acquisition of a 50.1% interest in EziBuy Limited, with the option to acquire the remaining 49.9% on or prior to 31 December 2020 for A$11m.

EziBuy was established in 1978 and is now one of the largest multi-channel clothing and homewares retailers in Australia and New Zealand, generating approximately NZ$135m of revenue. The acquisition aims to fast-track Mosaic Brands’ growing digital retailing strategy.

Mosaic Brands engaged the BDO Sydney team, led by Daniel Coote (Corporate Finance) and Pulin Desai (Tax), to advise on the transaction regarding financial and tax due diligence.

BDO provided detailed commercial insight into the business and the key issues surrounding the transaction. We were impressed with the quality of BDO’s work and their ability to turn around information in tight deadlines.