1. News
  2. Company News
June 1, 2018updated 27 Jul 2018 6:55am

Deals this week: Wesfarmers, Zodius Technology, Jollychic

Wesfarmers Limited has entered an agreement to sell its Homebase business based in the UK and Ireland to Hilco Capital’s associated company.

Wesfarmers Limited has entered an agreement to sell its Homebase business based in the UK and Ireland to Hilco Capital’s associated company.

Founded in 1914, Wesfarmers is a diversified business group based in Australia.

Hilco Capital will acquire the assets of Homebase, including its brand, store network, freehold property, property leases and inventory.

Scheduled for completion by 30 June 2018, the transaction will transform 24 Bunnings pilot stores to the Homebase brand.

Zodius Technology Fund has made an investment in Mila star Retail Private Limited (Zivame).

Zivame is an online lingerie retailer, while Zodius Technology Fund is a venture capital fund of Zodius capital. Both the companies involved in the transaction are based in India.

Content from our partners
Advanced analytics and predicting market trends in FMCG
How smart predictive analytics is shaping product development
Data analysis in the brave new world

Kalaari Capital and IDG Ventures India Advisors Private Limited have made investments in Zivame.

Zivame recorded net sales of Rs529m ($8.15m) in 2017.

Jollychic EC Limited has raised funds through a Series C funding round led by venture capital firm Legend Capital Co Ltd.

The funding round also involved participation from Sequoia Capital China.

Jollychic is an online platform for consumer products, including clothes, shoes, bags, lingerie and household goods. It sells products to customers in the Middle East.

“The firm will expand its business, fortify its presence in new markets, and launch new products.”

Both companies involved in the transaction are based in China.

Local Eateries Inc (operating as Porter Road) has raised $3.7m through seed funding from Max Ventures, Slow Ventures, BoxGroup, Tribeca Venture Partners, Collaborative Fund, Great Oaks VC, and other investors.

Based in the US, Local Eateries is an online butcher shop operator.

The firm intends to expand its business and develop strong relationships with its farmers.

Axcel Management A/S has entered an agreement to invest in GUBI A/S.

Axcel is a private equity firm, while GUBI is a design company that manufactures and sells furniture, lamps and other interior products.

Both the companies involved in the transaction are based in Denmark.

Carnegie Investment Bank AB is the financial advisor to Axcel Management for the transaction.

The firm will expand its business, fortify its presence in new markets, and launch new products.

Zhiqunale.com intends to raise funds through an angel funding round led by Hengdian Group.

Zhiqunale.com is an e-commerce platform, while Hengdian is an investment company.

Both the companies involved in the transaction are based in China.

Lotte Shopping Co Ltd has secured KRW160bn ($147.99m) through a public offering of bonds due 2021.

Established in 1979, Lotte Shopping is a department store, supermarket, hypermarket and convenience store operator based in South Korea.

The bonds will pay a fixed coupon rate until they mature on 28 May 2021.