25 Jun 2012

Claim company owners more realistic about sale prices

6:27 am on 25 June 2012

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.

The investment company, which owns footwear retailers, Number One Shoes and Hannahs, and also operates packaging, automotive and equipment businesses, 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 vendor expectations seem more realistic now than they were two or three years ago.

He says the Australasian economy has bought some realism to business valuations.

Mr Williamson says the company is looking on both sides of the Tasman for possible acquisitions, particularly in the automotive and packaging sectors.