CASE STUDY: Iconic Queensland IGA Sells Off-Market
After 27 years owning and operating Maleny Supa IGA, Rob and Samantha Outridge decided it was time to sell their business and retire.
Maleny Supa IGA is the oldest commercial premises in the largest town in the Blackall Range, in the Sunshine Coast Hinterland. Rob and Samantha had purchased the store in 1995 and transformed it into a modern supermarket. But they were at pains to maintain the intrinsic appeal of a traditional country store.
More than that, Maleny IGA is renowned for its support of local community groups and suppliers. True to their high ethical standards, they wanted to ensure the new owners would be as committed to the local community as they were.
So they engaged well-known and highly experienced supermarket business broker Mathew Hartley of Benchmark Business Sales and Valuations. After being briefed by the vendors, he was confident he’d be able to source the right buyer, off market. There’d be no need for advertising. Mat has an impressive database of potential buyers he would be able to work his way through.
The Maleny IGA is a large operation. Its purchase would be beyond the resources of many on Mat’s database. But in his inimitable style, he got to it, working behind the scenes to achieve his vendors’ objectives.
It was therefore a surprise to the local community when it was announced the Maleny Supa IGA would be changing ownership on 15 August, 2022.
The new owners, the Seasons Group, own a number of supermarkets in South East Queensland. They’re excited to continue serving the Maleny community with Queensland’s finest fresh produce and wide range of groceries.
As for Rob and Samantha? They’re delighted with the result. Mat had negotiated a great sale price. But more importantly, he had found a new owner and managers who will continue the tradition of supporting the Maleny community.
Benchmark Business Sales and Valuation is Australia’s leading, award-winning business brokers. Specialists in specific industries, not generalists.
If you’re thinking of selling, call Benchmark Business Sales & Valuations on 1300 366 521 to arrange a confidential chat.
