BURNABY- Canada’s Glentel Inc. has purchased an 83% stake in telecommunications retailer AMT Group for $73.4 million (U.S.), which operates and manages over 210 stores nationally across Australia.
AMT Group is a leading independent multi-carrier mobile phone and telecommunications retailer in Australia, widely recognized under the "Allphones" brand. Allphones represents major carrier brands OPTUS, Virgin Mobile and Vodafone. The company has a long history of providing customers with value, choice and expertise in a multi-carrier environment located primarily in shopping malls. As part of the agreement, the executive shareholders will retain an equity stake in AMT Group post the transaction and continue to work in their executive leadership roles.
"We are very excited to be partnering with Glentel as it provides AMT with a number of exciting opportunities across our business. Glentel's investment in AMT Group offers us access to knowledge and experience gained through its successful business ventures in North America. This is a watershed moment in the history of AMT Group and will position us for our next wave of growth – to be the market leader in retail mobile telecommunications products and solutions in the Australasian market,” said AMT Group's President, Shaun Colligan in a news release.
The companies said that moving forward there will be no significant change in the way AMT Group operates its business and its relationships with its stakeholders: employees, franchisees/licensees, landlords, retail channel partners and suppliers. Glentel added it was particularly impressed with AMT’s management team, who have developed a number of unique ways of positioning their brand.
“Such examples include the 'my number' platform where customers can buy a specific vanity number, as well as the recent agreement branding Australia's largest indoor stadium in Sydney Olympic Park the 'Allphones Arena.’ The stadium is Australia's largest concert venue and ranked in the top 10 of the world's best performing venues capturing national brand presence and unique call to action deals for venue guests," said Glentel President and CEO Tom Skidmore.
The first Allphones store opened in Mile End, Adelaide in 1989 and after 10 years expanded into the Western Australian market. In 2000 the retail network comprised 12 outlets, at which time the Allphones business was acquired by AMT Group. The first Sydney Allphones store opened in December 2001 and Allphones has since expanded to over 165 stores across Australia.
