Super Retail Group has completed its acquisition of outdoor and wilderness retailer Macpac for $NZ144 million.
This is after the group announced its intention to acquire the outdoor retailer on February 20.
Macpac currently operates 54 retail stores across Australia and New Zealand alongside its online retail operations.
Super Retail Group group managing director and CEO Peter Birtles said that Macpac would be integrated with the Rays business to give a platform for the group to grow in Australia and New Zealand.
“The Macpac business has performed extremely well over recent years.
“Yet there remains a significant opportunity to grow the business in the near future through opening new stores and growing its digital and commercial channels.
“Following the acquisition, the group has completed the trial of the Rays business will integrate its profitable stores into the Macpac business over the coming 12 months.”
Macpac's provisional and unaudited accounts for the year to March 31 report sales of $NZ97.3 million and EBITDA of $NZ17.2 million.
Macpac had also reported a growth in total and like for like sales of 21.2% and 8.6% respectively over that same period.