Australian childcare giant ABC Learning Centres has launched a big push in to New Zealand but NZX-listed Kidicorp is confident demand will keep growing for all players.
Australian Education Trust last week agreed to buy 35 childcare centres from Macquarie Leisure Services. The trust buys properties and leases them to ABC.
The deal is conditional upon ABC completing purchase of 49 Kids First operations in New Zealand from Macquarie Leisure - which would make ABC one of the world’s largest publicly traded providers.
Vin Harink, chief executive of Austock Property Management - the responsible entity for the trust - said that as ABC expanded in New Zealand the trust would be looking to acquire the properties.
“I think there are something like 1700 childcare centres in New Zealand, ABC owns 77,” Harink said.
“In Australia they have a 20 per cent market share. That’s not to say that they will have that in New Zealand but you would expect them to grow in New Zealand.
No comments yet.