Retail powerhouse acquires

Department store giants Best & Less and Harris Scarfe are set to welcome a new sister.

South African-based parent company Pepkor has purchased New Zealand womenswear chain Postie Plus.

Administrators confirmed the sale to Pepkor wholly-owned subsidiary Roan Limited on Friday.

The acquisition includes the Postie Plus head office in Auckland, along with 64 retail stores across New Zealand.

More than 530 of 560 employees have accepted positions with the new owners.

It is understood a majority of suppliers will also continue trading with Postie Plus.

Administrator David Bridgman said the business had been sold as a going concern within six weeks of appointing administrators.