Bendon confirms swimwear purchase

By Phil Boeyen, ShareChat Business News Editor

Wednesday 8th August 2001

Bendon (NZSE: BEN) has revealed it has bought swimwear business Expozay International from Hellaby Holdings (NZSE: HBY).

Bendon MD, Hugo Venter, says the company had signed a deal to buy the Expozay brand and current stock of the swimwear and lingerie company.

"We are extremely pleased to have the opportunity to acquire one of New Zealand's best known brands and we are committed to ensuring that the brand lives on."

Hellaby Holdings announced on Monday it had sold Expozay but said it could not reveal any details because of a confidentiality agreement.

Media have since reported that Expozay's Tauranga manufacturing plant is being closed down but Mr Venter says rumours circulating about the future of the business are premature, given that details of the acquisition are still being worked through.

"We are now in the process of working through its integration into the Bendon Group and will release further details of the purchase in the next few weeks.

"An opportunity may exist for some of Exposé's skilled workforce but this needs to be discussed by all parties."

Bendon was established in New Zealand in 1947 and today has six brands - Elle Macpherson Intimates, Macpherson Men, Bendon, Fayreform, Hickory and Hey Sister. It also operates eight Bennett & Bain and eight outlet stores nationwide.

The company manufactures its products off-shore, mainly in Asia.

Bendon sold its China Clay's business last year and in the last two years has changed its focus from manufacturing to design, marketing and export.

It has been hit by a tough retail market in both Australia and New Zealand in recent times but is hoping a foray into the UK, where it will launch part of its Elle Macpherson brand next month, will strengthen the business.

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