Anchorage Capital Partners and Woolworths Holdings Limited have entered into a binding agreement for Anchorage to acquire the operating business of David Jones. Anchorage is one of Australia’s leading private equity firms with extensive experience in retail and consumer investments over 25 years. Anchorage will acquire the operating business of David Jones with the transaction expected to close by the end of March 2023, subject to customary closing conditions.

As an omnichannel department store David Jones operates 43 stores and two distribution centres across Australia and New Zealand, as well as a rapidly growing e-commerce business. Together with Anchorage’s experience, capital commitment and investment, David Jones would continue to execute its Vision 2025+ strategy, which capitalises on its privileged market position and brand value to:

• know and grow the customer base;

• be an omnichannel curator of world-class brands;

• deliver a seamless service experience;

• and leverage the skill and experience of its talented employees.

Scott Fyfe will remain as the CEO of David Jones under the new ownership structure. Together with his talented and experienced management team and Anchorage, he will lead through the next Chapter of David Jones story.