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Acquisition to hasten Magnum Mac expansion

Acquisition to hasten Magnum Mac expansion

Magnum Mac will open five new stores following its acquisition by Renaissance.

Although the company was already planning to expand, with a store in the Westfield Mall currently under construction in Albany, Auckland, it would not have been to the same extent without the buyout, says general manager and former owner Murray Wood.

Under the Renaissance deal, Wood says all stores will be refitted “to look more like the genuine Apple experience”.

Magnum Mac staff will act as Mac specialists and will offer free training workshops for store visitors. The company will also set up a Technical Service Group to provide nationwide service, support and installation. It then hopes to become a premium Apple reseller, the highest level of certification offered by the vendor.

As general manager of Magnum Mac, Wood now reports to Renaissance managing director Paul Johnston, but says there will be no other staff changes at Magnum Mac as a result of the deal.

Magnum Mac already has branches in Auckland, Wellington, Christchurch and Dunedin and Johnston says changes to existing premises are planned once leases expire.

Back-end office logistics and business sales may run from different premises, with new retail stores in the same area. “For example, Christchurch runs well as a destination store, but as the lease expires we’ll move to another building and open a retail store as well, maybe in a shopping mall,” Johnston says.

The new stores are an opportunity to achieve success similar to that of Apple retailers overseas, he says.

“In Australia and the UK there’s been investment by Apple channel partners in raising the standard of the retail business and there’s been a lack of that in New Zealand.”

Renaissance is buying Magnum Mac for $3.5 million.

Magnum Mac has annual sales of around $28 million and annual earnings before interest and tax of about $1 million.


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