Freedom and Amart are planning a merger as the two furniture retailers are looking to shake up the Australian market amid ways to boost their growth.
Quadrant Private Equity backed Amart is set to purchase Freedom from Greenlit Brands, which had been searching for a buyer for the popular brand.
The combined businesses, with Amart CEO Lee Chadwick at the helm, include 120 stores across Australia and New Zealand with plans to expand, however, both brands will continue to operate separately before a possible ASX listing in the near future.
Freedom Furniture currently has 60 stores across Australia and New Zealand supported by distribution centres and Amart has 66 stores.
Greenlit Brands has been selling off its brands for the past few years including Snooze and Harris Scarfe and only has Fantastic Furniture left in its Aussie portfolio.
The merger is pending as it awaits approval, subject to customary conditions. When approved the large retail platform will have a significant impact on the homewares and furniture market.
Image: Freedom Instagram
