Amart Plans to Acquire Freedom Furniture in $1B Merger
Deal News | Jun 16, 2025 | EIN
In a strategic move to bolster its market presence, Australian furniture retailer Amart has announced an acquisition deal with Freedom Furniture, a company under Greenlit Brands, creating a combined entity with an anticipated annual turnover of approximately $1 billion. Supported by Quadrant Private Equity, this acquisition intends to create a group operating 120 stores throughout Australia and New Zealand. Retaining their independent identities, Amart and Freedom Furniture will collaborate to expand their respective store counts, maintaining competition with larger players like Harvey Norman and ASX-listed Nick Scali. The merger aims to enhance customer value, supply chain efficiency, and investment potential. The acquisition remains subject to final approval and standard merger conditions.
Sectors
- Retail Furniture
- Private Equity
Geography
- Australia – Amart and Freedom Furniture operate primarily in Australia, and the merger will affect the local retail furniture market.
- New Zealand – Both retailers have operations in New Zealand, making it a relevant geography for the merger's impact.
Industry
- Retail Furniture – The article involves major furniture retailers in Australia and New Zealand, indicating that the primary industry is retail furniture.
- Private Equity – Quadrant Private Equity's involvement in backing Amart's acquisition highlights the presence of the private equity industry in the transaction.
Financials
- $1 billion – The anticipated annual turnover of the combined entity post-merger.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Amart | Acquiring Company | Company | An Australian furniture retailer set to acquire Freedom Furniture. |
| Freedom Furniture | Target Company | Company | A furniture retailer owned by Greenlit Brands, operating in Australia and New Zealand. |
| Greenlit Brands | Selling Company | Company | The current parent company of Freedom Furniture. |
| Quadrant Private Equity | Private Equity Backer | Company | The private equity firm backing Amart in its acquisition of Freedom Furniture. |
| Harvey Norman | Competitor | Company | A major competitor in the Australian retail furniture market. |
| Nick Scali | Competitor | Company | A competing ASX-listed designer furniture retailer. |
| Steinhoff International Holdings | Former Parent Company | Company | The former parent group of Greenlit Brands. |
| Blaine Callard | CEO of Freedom Furniture | Person | Chief Executive Officer of Freedom Furniture. |
| Chris Hadley | Chairman of Amart | Person | Chairman of Amart, involved in the acquisition discussion. |
| Lee Chadwick | CEO of Amart | Person | Chief Executive Officer of Amart, providing insights into the acquisition. |