Myer to acquire apparel brands from Premier Investments for AUD946m.

Myer, an Australian mid-range to upscale department store, agreed to acquire apparel brands from Premier Investments, an Australian public company limited by shares, for AUD946m. "The combination of Myer and Apparel Brands is transformational for our business. If approved by shareholders, it will create a leading retail group with more than 780 stores across Australia and New Zealand, with a large and highly engaged customer base and capital to fund future investment and growth," Olivia Wirth, Myer Executive Chair.