btob:
Iconic Kiwi company Para Rubber is back in New Zealand hands following a deal completed on April 1, 2009.
The brand, which will celebrate its 100th anniversary next year, is now a 100% New Zealand business again, after spending 13 years under the ownership of Australian company Clark Rubber.
Kiwi company GMT Franchising, has now bought the Para Rubber business itself off Clark for an undisclosed sum.
The Plastic Box business, which is run by Pacbranz, has held the Para Rubber master franchise for the past three years.
GMT chief executive and director Vaughan Moss said, “Para Rubber is an iconic New Zealand brand with tremendous name recognition.
“We’re delighted to have it come back into New Zealand hands and will be expanding the franchise network, providing great opportunities for more Kiwis to take control of their own businesses.â€
Para Rubber currently has 10 stores from Whangarei to Dunedin, and Moss said there was plenty of potential for growth, particularly in Auckland and Wellington.
“As well as boosting the store network, we want to build up the brand again and restore it to general usage on a wide range of products.â€
