FAST-growing Adelaide franchisor Cartridge World is expected to double in size by 2010 after its takeover by management and NSW private-equity firm Wolseley.
Wolseley managing director Peter Hasko said yesterday annual retail revenue from Cartridge World’s franchises across the world would double from $400 million to $800 million in that time as the company sought to open more stores.
Mr Hasko said Wolseley’s 70 per cent holding would remain for the next three years before it looked to exit its investment. “The best options are it could be floated publicly in Australia or the U.S. or there might be some trade buyers,” he said.
Cartridge World co-founders Paul Wheeler and Bryan Stokes, who built the printer cartridge-refilling franchise from a single Adelaide outlet in 1997 had done “a fantastic job bringing the company to where it is today”, Mr Hasko said. “It was time for them to take the benefits of what they’ve done and take a step back to new ideas and capital for the business,” he said.
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