Bp’S Expand Store Holdings In E. Australia
p. 120 · Read in the full issue
A COMPANY with a nominal capital of £5,000,000 in £1 shares was formed recently in NSW to acquire from Burns Philp & Co., Ltd., the whole of the latter’s interests in the Queensland- Northern NSW chain-store organisation known as Penneys. The new
company is called Penneys, Ltd,, and Burns Philp and Co., Ltd., hold all the issued shares.
Burns Philp and Co., Ltd., now also own or have the controlling interest in a large proportion of the big general stores in Central and Southern NSW. Even before 1939,
it was the policy of the compai to spread its interests beyond tl Pacific Islands ships, stores ar plantations, which was the origin basis of its huge business. Sim World War II this policy has h come more marked. As Islam Administrations develop a tendem to take over water transport ar retail distribution the company increasing its interests in rets distribution on the Australis mainland.