Australian retailer Foodland Associated has said it has completed the sale of its Farmers department store chain and consumer finance division in New Zealand to the Hector Paskel consortium.
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Foodland said it would review potential uses for funds raised from the sale, including expansion of existing operations and capital management initiatives, reported Dow Jones International News.
Foodland sold Farmers in order to focus on its supermarket and grocery wholesale operations in Australia and New Zealand.
