In 2019, Wesfarmers’ $230m purchase of Catch from Gabby and Hezi Leibovich seemed great for all concerned, but it fluffed its COVID-19 boost and should now sell it back.
Perth conglomerate Wesfarmers acquired Catch Group in June 2019 for $230 million in cash. It was a massive payday for founders Gabby and Hezi Leibovich and a great deal for Wesfarmers, with Catch’s value rising to more than $1 billion within a year, according to JPMorgan.
Why, then, do both parties probably feel significant remorse that the deal was ever done?
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Adir Shiffman is executive chairman of Catapult Sports and a serial investor and entrepreneur. Connect with Adir on Twitter.
