Australian retail group bags Macpac

Another New Zealand outdoor clothing and equipment company has changed hands.

Macpac, which was founded in 1973 by Bruce McIntyre, has sold to Australian retail giant Super Retail Group for $144 million.

The takeover of Macpac, which has 54 stores in New Zealand and Australia, will be completed on March 31.

The deal comes after United States retail giant VF Corporation, which owns brands including The North Face, Vans and Wrangler, announced in November it was buying Icebreaker for an undisclosed sum.

Retail analyst Chris Wilkinson said it was an interesting move by the Australian retail giant, considering it had experienced ‘‘mixed fortunes’’ in the camping and leisure category in the past.

Macpac would have been an attractive investment for Super Retail Group, as it would have been seen as a ‘‘clean business’’ with close synergies to the group’s other brands, Wilkinson said.

‘‘They’ll likely achieve economies of scale if they choose to integrate support and logistics. And they may even choose in the future to co-locate stores, very much like Briscoe and Rebel have done, driving their own destinations.’’

In late 2015, Australian venture capital firm Champ Ventures bought 90 per cent of Macpac for about A$70 million (NZ$74m) from Mouton Noir, owner of the Fairydown outdoor equipment and clothing brand, and Kathmandu founder Jan Cameron.

‘‘The heritage of the business and the quality of its products . . . have not yet been fully leveraged.’’

Super Retail Group chief executive Peter Birtles

Champ Ventures had big plans to grow the company, with Macpac expected to open about one store a month, from the start of 2017, for several years.

Super Retail chief executive Peter Birtles said buying Macpac was in line with the group’s strategy to inspire customers to enjoy their leisure time.

‘‘The Macpac business has performed extremely well over recent years, yet there remains a significant opportunity to grow the business in the near future through opening new stores and growing its digital and commercial channels,’’ he said.

‘‘The heritage of the business and the quality of its products are assets that have not yet been fully leveraged, and we believe there is an opportunity to develop an experience for customers that brings these assets to the fore.’’

Super Retail said it planned to consolidate its Rays outdoor outlets under the Macpac brand.

This meant the business would have small stores which focus on apparel with limited footwear, equipment and accessories, and the items it sells will be mainly Macpac-branded.

The larger stores would have a more extensive range of products under the Macpac brand, as well as other major global brands.

Super Retail Group aims to build the ‘‘leading adventure outdoors retail business across Australia and New Zealand’’.

Wilkinson said the company was a ‘‘very smart operator’’.

‘‘Macpac has been an iconic Kiwi brand, but we believe consumers have increasingly seen it as an Australasian brand … Overall, we see it as a good move.’’

Super Retail Group also owns Supercheap Auto, BCF (Boating, Camping, Fishing), and Australian sportswear retailer Rebel.

Macpac was founded 45 years ago when McIntrye began making and selling tramping packs from his parents’ garage in Christchurch.