Meccano’s purchase on March 30 saw the increase of family-owned company De Vere’s staff numbers to more than 130, with 25 retail outlets across New Zealand.
The two companies have a working relationship for more than ten years, which, according to a statement released by the company, made the transition seamless into new ownership for Meccano staff and customer.
“Meccano has worked with De Vere as a trusted supplier for more than 10 years, so we believe that the business is in safe hands.”
The staff will remain at Meccano’s 15 outlets across New Zealand, while the company’s head office will relocate to an Auckland space, where they will work alongside the De Vere and Ruby teams.
Meccano was founded in 1993 by Dai & Cheryl Endicott-Davies. Its first store opened at Centre Place mall in Hamilton.
The retail chain now has 15 stores spanning from Auckland to Dunedin, which will continue to operate under the new ownership.
Meccano’s former owners said they were pleased the business remained in the hands of a family-owned New Zealand company.
De Vere Investments’ managing director Vere Sharma said he looked forward to building the Meccano brand.
“We’re committed to evolving and strengthening Meccano and ensuring it remains relevant and competitive in today’s market,” Sharma said.
“Though it’s a challenging and dynamic time for the retail industry, with the growth of online sales and increased competition from New Zealand and offshore, we believe that if you do something with passion and focus it will succeed.”
The company acquired Ruby in 2008.