Greenlit Brands

Greenlit Brands, formerly Steinhoff Asia Pacific Group, is the Australian subsidiary of Steinhoff International. It owns the furniture retailers Freedom Furniture, Fantastic Furniture and Snooze.

Greenlit Brands
FormerlySteinhoff Asia Pacific Group
TypeSubsidiary
IndustryRetail
ParentSteinhoff International
Divisions
Websitegreenlitbrands.com.au

History

Steinhoff International acquired South African company Pepkor in November 2014.[1]

In October 2016, Steinhoff Asia Pacific announced it would acquire Fantastic Holdings for A$361 million. Fantastic Holdings included the chains Fantastic Furniture, Plush, Le Cornu and Original Mattress Factory.[2]

In September 2018, Steinhoff Asia Pacific rebranded as Greenlit Brands to distance itself from the controversy surrounding its parent company.[3]

In November 2019, Greenlit announced it would sell its entire general merchandising division to private equity firm Allegro Funds. The deal included Best & Less, Harris Scarfe and Postie.[4][5]

In October 2021, Greenlit sold its Plush sofa business to Nick Scali Furniture for $110 million.[6] In June 2022, Greenlit sold its Original Mattress Factory retail business.[7]

Brands

Former
  • Best & Less – Discount retailer. Sold in November 2019 to Allegro Funds[5]
  • Postie – New Zealand clothing chain. Sold in November 2019 to Allegro Funds[5]
  • Harris Scarfe – Homewares and manchester chain. Sold in November 2019 to Allegro Funds[5]
  • Plush – Think Sofas – Acquired in October 2016 and sold in October 2021 to Nick Scali Furniture[2][6]
  • Original Mattress Factory – Acquired in October 2016 and sold in June 2022[2][7]

References
  1. Mitchell, Sue (26 November 2014). "Steinhoff expands Australian footprint after Pepkor acquisition". Australian Financial Review. Retrieved 23 April 2023.
  2. "Steinhoff to acquire Australia's Fantastic Holdings for $274 million". Reuters. 16 October 2016. Retrieved 23 April 2023.
  3. Blake, Dean (28 September 2018). "Steinhoff Asia Pacific rebranding Greenlit". Inside Retail. Retrieved 22 April 2023.
  4. Mitchell, Sue (18 November 2019). "Greenlit Brands' Harris Scarfe, Best & Less sold to Allegro". Australian Financial Review. Retrieved 23 April 2023.
  5. Powell, Dominic (19 November 2019). "Best & Less, Harris Scarfe back in Australian hands". The Sydney Morning Herald. Retrieved 23 April 2023.
  6. "Nick Scali Confirms $110 Million Acquisition of Plush". Power Retail. 3 October 2021. Retrieved 23 April 2023.
  7. Greenblat, Eli (1 February 2023). "The owner of Fantastic Furniture, Freedom and Snooze". The Australian Business Review. Retrieved 23 April 2023.
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