C. Begg Purchaser Of Wisemans’ Shops

Press, Volume CVIII, Issue 31728, 11 July 1968, Page 20

C. Begg Purchaser Of Wisemans’ Shops

(New Zealand Press Association) AUCKLAND, July 10. Charles Begg and Company, Ltd, Welling-ton-based radio, television and electrical appliance wholesaler and retailer with manufacturing interests, has emerged as the purchaser of the retailing subsidiary of Wisemans Holdings, Ltd, Auckland.

This was announced in a joint statement from the chairmen of both companies —Mr C. B. Barrowclough, of Charles Begg, and Mr D. St Clair Brown, pf Wisemans. The statement says Charles Begg is now directly involved in 48 retail shops and the purchase will bring about

economies in distribution, warehousing and control. Increased buying power and greater retail efficiency will bring an increasing range of goods and other benefits to the customers of both companies in addition to introducing greater stability into the retail trade. An announced, the retail business of Wisemans Holdings. conducted through the wholly owned subsidiary. Frank Wiseman, Ltd, has been sold on the basis of the assets of the latter company as at March 31 last. The latest statement does not reveal the purchase price or the method of payment.

Sharebroking Changes Mr J; L. Sturge was appointed a member of the Christchurch Stock Exchange at a special meeting yesterday. The seat was transferred from Mr I. J. Wilson. The meeting also approved a new partnership in which Mr B. H. O’Malley will join the partnership of Laurenson and Green.

The new partnership, which will be called Laurenson. Green and O'Malley, comes into effect on August 1.