Wesfarmers Ltd. said Aug. 12 that it completed its acquisition of Australian e-commerce company Catch Group Holdings Ltd. for A$230 million, boosting the conglomerate's omnichannel presence.
The completion came after the Australian Competition and Consumer Commission cleared the deal Aug. 5.
Wesfarmers agreed to acquire Catch Group, which operates an online marketplace in Australia, offering a range of branded goods such as clothes, electronics and groceries. The Australian conglomerate funded the deal through its existing debt facilities.
Following the deal's completion, Wesfarmers said Catch Group will operate as an independent business unit under the oversight of Kmart Group's managing director Ian Bailey. Catch Group's approximately 400 employees also transitioned to Wesfarmers, effective immediately.