Sale of Storm Business Assets
HALLENSTEIN GLASSON HOLDINGS LIMITED
Sale of Storm Business Assets
The company advises that its wholly owned subsidiary, Retail 161 Limited, has entered into an
unconditional agreement for the sale of the Storm business assets to Blackstar Holdings Limited.
The settlement is scheduled for 30 April 2018. On and from settlement, the Storm business will
cease trading under Retail 161 Limited ownership and continue to trade under Blackstar’s
ownership. The Storm business is no longer considered a strategic core asset of the group as it is
focusing its efforts on expanding its other two much larger fashion brands, namely Glassons and
Hallenstein Brothers in both the New Zealand and Australian markets. The value of the
transaction is not material in terms of the assets or profit of the group.
Mark Goddard
Group CEO
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