Aussie firm buys Harveys real estate
Australasian real estate firm LJ Hooker has bought local real estate company Harveys.
It is LJ Hooker’s first major acquisition since a consortium of private investors led by ceo L. Janusz Hooker acquired LJ Hooker from Suncorp last November.
“Today’s announcement underpins our commitment to New Zealand and is part of a larger strategic plan to strengthen our leadership position in this key market,” Mr Hooker said.
“We recognise the tremendous value Harveys will bring to the LJ Hooker family given its 92 year history and its standing as one of the most respected real estate brands in New Zealand.”
Harveys director Ross Hunter said: “There are natural synergies between our two organisations and this union of brands will leverage the existing strengths within each to provide a solid foundation for growth.”
The combined New Zealand network places LJ Hooker as one of the largest Real Estate Franchise groups in New Zealand.
Under the terms of the agreement, LJ Hooker assumes the role of franchisor service provider to the Harveys franchises effective from November 1, 2010.
This announcement follows the recent appointment of Wayne Graham to the position of executive chairman of LJ Hooker, New Zealand.