Brac Enterprises and Hudson Investment Group Form Joint Venture

SYDNEY, AUSTRALIA - In a strategic move to ensure the continued growth and success of their venture, Brac Enterprises PTY LTD, under the dynamic leadership of Timothy Brachmanis, has entered into a Memorandum of Understanding with the Hudson Investment Group. The memorandum, which outlines the formation of a joint venture, can be viewed here.

The joint venture's primary goal is to secure future funding for the capital requirements of the Sears Craftsman Australian Distribution. This strategic partnership not only bolsters the financial backing of the operation, but also underscores the commitment of both companies to bring the Craftsman brand to every corner of Australia.

Hudson Investment Group, a publicly listed company with interests in mining and hardware sales among others, will also facilitate payments to Brac Enterprises PTY LTD. This will enable Brac to buy out its existing dealer stores, thereby strengthening the distribution network of Craftsman products throughout Australia.

Despite the change in financial arrangements, Brac Enterprises will retain a significant stake in the joint venture, holding 50% of the new company. This not only ensures Brac's continued influence on the direction of the venture but also demonstrates their enduring commitment to the Sears Craftsman brand in Australia.

Brachmanis' vision and relentless determination have been instrumental in bringing the Craftsman brand to Australia. With this new partnership and the promising developments of the past few years, the future of Sears Craftsman in Australia looks brighter than ever.