How the Aussie business ‘rose to the occasion’ after a rocky start.

 

Platinum Equity, the US owners of Winc Australia/New Zealand, has applauded the performance of its Antipodean business in a glowing report on the parent company’s website.

 

The private equity firm said that the Sydney-based A/NZ company’s position today is a “far cry” from 2020 when the business faced many challenges during the early stages of a long and difficult merger integration process.

 

The merger was  initially delayed by a protracted regulatory review. Issues with company culture, systems, facilities and a massive inventory SKU – exacerbated by the pandemic – all of which “threatened the viability of the Australian workplace supplies company.”

 

Winc is now on “solid ground” roughly seven years after the company was formed by Platinum Equity through a combination of Staples and OfficeMax assets acquired in Australia and New Zealand.

 

Platinum Equity executives and company executives credit the turnaround to a renewed commitment to customers and significant operational improvement.

 

A mostly new management team has overseen the implementation of artificial intelligence and automation, adding another layer to customer responsiveness.

 

Rising employee satisfaction combined with a strong social agenda that is good for business and a key Winc differentiator appears to have the company on a solid path after a rocky beginning and the disruption of the pandemic.

 

“We believe that the management team rose to the occasion,” Platinum Equity managing director Adam Cooper said.

 

“We were able to partner together, and we gave them the tools to survive. Additional capital provided them with the liquidity to withstand the downturn and invest in automation during a period of lighter business activity. We saw a relentless focus on driving operational efficiency.

 

"That’s a focus across the entire organisation from warehouse operations to sales, merchandising, and back-office systems. They spend meaningful time and effort focusing on their interface with the customers through web-based applications,” Cooper said.

 

“Platinum’s support for everything we’ve asked for has been outstanding. They are great partners and intelligent operators who just get it,” Winc CEO Peter Kelly (pictured), said.

 

To read the full story go to: https://www.platinumequity.com/news/how-winc-management-team-platinum-eq...