As Chemist Warehouse celebrates the $32 billion marriage with Sigma, it’s clear how vital the retail chain’s culture will be to the deal. Here are the secrets of that culture.
Love was in the air on Thursday as Sigma Healthcare and retail giant Chemist Warehouse finally began trading on the ASX more than 14 months after their $32 billion reverse takeover.
Mario Verrocchi, the co-founder and chief executive of Chemist Warehouse, who will emerge from the deal with a stake worth about $5 billion, said the deal had been like an arranged marriage, where the two parties knew they were heading down the aisle, but were unable to speak with each other beforehand.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
