Less than three weeks after Harvey Norman bought up 22 Vox electrical and music stores, Betta Stores has announced its own deal to snap up 65 outlets of the troubled retail chain.
The transaction includes the Chandlers and Archie Martin Vox brand names, assets, leases and staff as well as the bricks and mortar outlets.
According to general manager Guy Houghton the deal will see Betta's retail sales grow to more than $1 billion.
"The balance of the Vox stores will operate under a Betta Stores Ltd Master Franchise Agreement allowing them to draw services from the established retail platform," he said.
Betta currently has around 338 outlets throughout Australia and is currently introducing computer products into the Betta member stores throughout Australia.
The contract also covers some Vox head office staff in buying, marketing, field support and administration. Vox will keep 36 of its stores, and retain ownership of the Billy Guyatt's brand as well as franchise rights to the Chandlers and Archie Martin Vox brands.