Wilson Retail to Acquire Red Herring Stores

Hobart Flagship store

Wilson Retail (Saltwater Wine and Stormriders) has entered into a binding agreement to purchase Red Herring Surf from Victor and Wendy Tilley.

Victor and Wilson Retail Managing Director, Anthony “Macca’ Wilson have been friends for over 12 years, both being founders of ISRA (Independent Surf Retailers Association) and the SBIA, (Surf Boardsports Industry Association) and as family owned businesses they share many similarities.

“I had been looking at further opportunities in NSW when Victor first raised the subject that he was considering selling”. Said Wilson. Adding,

A couple of conversations later and our respective accountants got the ball rolling, the more we looked at It during our due diligence the more it made sense”.

Wilson retail currently operate stores some distance from their head office and over a wide climatic and geographical range.

Our approach to buying and listening to our consumers ensures we have the right product in the right stores. Culturally there are many similarities and travel wise we can be in Tasmania quicker than we can get to our Central West stores”.

The Wilson Retail business has gone from six Saltwater Wine stores in 2010 to three Saltwater Wine and 10 Stormriders stores in 8 years, without really changing the management structure. With the addition of the 4 new Tasmanian based stores, the Wilson Retail management team are working through a new organisational structure internally which will be implemented fully once the deal settles.

Saltwater Wine, Port Macquarie

Some changes have already been made within the Wilson Retail business to accommodate the upcoming plugin of the Red Herring Business.

Emma O’Brien has moved from Senior Buyer into a new position of Brand & Product Manager. The new role will have Emma overseeing the execution of Marketing, VM and the Buying Department, with Wilson still heavily involved in all aspects of Brand and Product.

With Emma’s new role Mat Cox will move into the Senior Buyer position. In addition to managing the men’s and surf categories, Mat will be responsible for the supervision and development of the Ladies Buyer and Buying Support positions in addition to being the first point of contact for the combined businesses brands and supply partners.

The business is also currently advertising for the position of Accounts Payable & Payroll.

As with all acquisitions there are a number of steps the purchase still has to go through, and the integration of the two businesses will take some time.

Award winning retailer, Anthony Wilson.  Image: SBIA / Port News

Victor Tilley (L), a stalwart in the Tasmanian retail and business sector.

There is always some change that comes with these types of acquisitions, but we are committed to going through the process with integrity and want to be mindful of the hard work and dedication that has been put into the Red Herring business by Victor and all is staff to date.”

Added Anthony, who along with key members of his team will visit some of the Red Herring locations next week.

The deal is expected to settle on the 29th June.

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