Pacer buys Takle group

Press, 5 February 1987, Page 22

Pacer buys Takle group

PA Wellington Pacer Pacific Corp, Ltd, says it has bought all the shares in two unlisted companies, Takle Bros, Ltd, and Takle Textiles, Ltd, for an undisclosed cash payment. Takles began trading last year, originally as a small concern in textiles, Pacer said in a statement. Today the group had total assets of $3.4 million and was involved in textile wholesaling, foam fabrication, unholstery and bed spring manufacture. It had operations in Auckland, Wellington, Christchurch, Hamilton and Palmerston North. Pacer said it had injected further capital into

the companies to provide for the current sales growth and expansion into other areas. Existing staff would be kept on, and would be encouraged to subscribe for equity in the new Takle group. The manufacturing plants in Auckland and Christchurch were working to full capacity and the group was well positioned for further growth in the industry, Pacer said. On the Takle group’s newly constituted board would be the managing director, Mr Robert Thompson, directors from Pacer, and the executive chairman, Mr Robert Latimer.