Woolworths set to buy Ezibuy

Woolworths (WOW) will acquire New Zealand-based direct retailer EziBuy Holdings Ltd for $NZ350 million ($308.3 million).

In a statement to the Australian Securities Exchange, Woolworths said the deal would accelerate growth of its multi-option business, as Ezibuy is scaled for fulfilling direct-to-customer orders and operates through an online platform, catalogues and contact centres.

Woolworths chief executive officer Grant O'Brien said the deal would help deliver a best practice online experience for customers.

The acquisition is subject to approval from New Zealand's Overseas Investment Office.