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Iconic Liquor Chain Announces New Ownership

NEWS RELEASE

31 October 2008

Iconic Liquor Chain Announces New Ownership

Retail franchise Liquorland has been purchased from DB Breweries by grocery co-operative Foodstuffs, after negotiations concluded earlier this week.

After several approaches from interested parties, DB Breweries, who felt that off-premise retailing was no longer core to their business, selected Foodstuffs as their preferred bidder after a competitive bidding process, believing the New Zealand owned company the most suitable to own, support and grow the nationwide liquor chain of 70 stores.

The purchase is a logical extension of what Foodstuffs already excels at says Foodstuffs NZ Managing Director Tony Carter. “Supporting independently owned and operated businesses is what we do best. We think it’s a great fit for both the Liquorland brand and our future growth strategy.”

DB Breweries Managing Director Brian Blake agrees, saying, “Liquorland has been a profitable and important part of our portfolio over the years, and, as the business wasn’t for sale as such it was critical to us that we found the right partner to ensure Liquorland – both the business, and the people – would be in good hands.”

The change of ownership is effective 31 October 2008 and is not expected to affect the retail operations in any way.

Foodstuffs consists of three sister companies, Foodstuffs (Auckland), Foodstuffs (Wellington) and Foodstuffs South Island and their stores are 100% New Zealand-owned and operated. Other Foodstuffs retail brands include PAK’nSAVE, New World, Four Square, Henry’s and Duffy & Finn’s.

ENDS

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