Kogan.com goes Mighty Ape
Kogan.com has announced that it has acquired 100% of Mighty Ape Limited, a leading online retailer in New Zealand. Mighty Ape has a focus on gaming, toys and other entertainment categories. With more than 690,000 unique customers, the company has significant operations, employing 161 permanent FTEs, as well as operating a purpose-built distribution centre near Auckland.
Kogan notes that the $122.4 million acquisition is highly complementary, combining two market leaders, enabling Mighty Ape to build on its strong customer offering, and providing the infrastructure and expertise for Mighty Ape to further scale.
Kogan will benefit from accessing immediate scale in New Zealand, while significant synergies are likely to be available across numerous areas of the business.
Mighty Ape is forecast to generate:
Revenue of AUD $137.7 million
Gross Profit of AUD $45.7 million
EBITDA of AUD $14.3 million.
Kogan.com COO and CFO David Shafer said:
“We are pleased to be bringing the iconic Mighty Ape into the Kogan Group. Mighty Ape has more than a decade of experience and track record of delighting Kiwi customers and has become one of New Zealand’s most trusted brands. Mighty Ape will give us significant scale in New Zealand and further strength across a variety of operational dimensions. We will be drawing on Mighty Ape’s deep experience in gaming, toys, other entertainment product categories and the New Zealand market, and combining this experience with Kogan.com’s sourcing, technology, systems, infrastructure, and marketplace capabilities, to further enhance the group’s already market-leading offering across the Tasman.”