Hellaby Holdings says subdued economic conditions on both sides of the Tasman are forcing company owners to be a lot more realistic about sale prices.
An NZ investment company which owns footwear retailers, Number One Shoes and Hannahs, and also operates packaging, automotive and equipment businesses, Hellaby Holdings says it is on the lookout for acquisitions.
Hellaby Holdings' chief executive, John Williamson, says there's no shortage of opportunities, and the company has considered a number of possible options in the last nine months.
But he says the company won't make an acquisition for the sake of it, and it's prepared to wait for the right deal.
Mr Williamson says the company is looking on both sides of the Tasman for possible acquisitions, particularly in the automotive and packaging sectors.
He notes retail conditions remain tough, as consumers watch their spending.
Retail is certainly reasonably flat: consumers seem to be saving rather than spending, he says.