IKEA Australia buys out WA, SA franchisee
Sue MitchellColumnist
IKEA Retail Australia expects sales to rise almost 30 per cent to $1.4 billion this year after finally convincing Western Australian businessman Alan Tribe to sell his two franchised IKEA stores in Perth and Adelaide.
After more than 10 years of negotiations, IKEA has reached agreement to buy Mr Tribe's Cebas Pty Ltd, which acquired the IKEA franchise on the West Coast in 1999 and has run the furniture and homewares retailer independently of IKEA's operations on the East Coast.
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Sue Mitchell writes the fortnightly Window Shopping column for the Financial Review and has covered retailing for over 30 years. Connect with Sue on Twitter. Email Sue at smitchell2045@gmail.com
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