S.C.M. buys Dn firm
Smiths City Market, Ltd, of Christchurch, has taken over the . Dunedin firm, Paterson and Barr, Ltd, which will continue to trade under its present name.
Paterson and Barr was formed 92 years ago as a home-appliance and hardware-retailing company. Its shareholders will receive 100,000 shares in Smiths City Market and the balance in cash, reports the Press Association.
Paterson and Barr, with six stores in Otago, intends to expand its main store in High Street, Dunedin, by giving a further 740 sq. m for retailing.
Mr G. A. Paterson will retain his position as managing director of Paterson and Barr and will be joined on the board by two senior employees, Mr F. Penny, the High Street store manager who has been with the company for 42 years, and Mr R. Clements, a newly appointed general manager who has been with the company for 18 years. Messrs D. Smith and K. Smith will be appointed to Paterson and Barr’s board by Smiths City Market. Mr Paterson has been invited to join the board of Smiths City Market.
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Press, 16 August 1977, Page 1
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181S.C.M. buys Dn firm Press, 16 August 1977, Page 1
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