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MySale to acquire Australian online retail businesses

Flash sales retailer MySale has entered into a binding agreement to acquire the trade and assets of three online consumer retail businesses from Grays eCommerce Group in Australia.

GENERAL MERCHANDISE

MySale to acquire Australian online retail businesses

The acquisition includes the domain names 'OO.com.au', 'dealsdirect.com.au', and 'topbuy.com.au' and all associated customer databases, intellectual property, trademarks and goodwill.

MySale said it hopes the acquisition will substantially increase the group's active customer base.

MySale expects to exchange contracts for the acquisition at the end of November with completion expected on 31 January 2016.

Carl Jackson, chief executive of MySale Group, said: “This is a great opportunity to substantially grow our active unique customer base in Australia and fits with our strategy of widening our online proposition to leverage our existing assets.

“The sites being acquired are all well-recognised brands in their own right, with a female weighted customer base. There is very little overlap with our existing member base so there is also a good opportunity to cross sell our core fashion offering.''

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