Harris Farm Attracts Private Equity

Share Post:

Freshmark member Harris Farm could be set for a change in ownership after The Financial Review revealed a Goldman Sachs led auction attracted a number of private equity (PE) firms looking to invest in the grocery retailer. Harris Farm may want to achieve from the auction, total control, a minority stake, or debt refinancing all potential outcomes.

Harris Farm earlier announced a A$300m capital expansion programme designed to almost triple earnings in the coming five years. It is said to be seeking capital to make it possible.

The programme, which would result in Harris Farm doubling its store count by 2025, can be partly self-funded by stores, which are due to be profitable once they open. The proceeds are then expected to be reinvested into a new site.

But the internal cash generation is not expected to cover the whole bill, which is why Harris Farm is in talks with private equity groups and trade parties about taking a stake in the business.

Stay Connected

More Updates

HORTICULTURAL NETTING PROGRAM TRIAL TO OPEN IN NSW

The Australian Government’s Horticultural Netting Program trial is designed to assist horticulturalists to develop resilience and adapt to Australia’s changing climate. Through the program, horticulturalists

Verified by MonsterInsights