We are pleased to announce that Adairs Limited (ASX:ADH) has entered into a binding agreement to acquire all of the shares of Mocka Limited (“Mocka”) for a notional initial enterprise value of circa NZ$80.0 million (A$75.5 million).

Mocka is an online retailer of home and living products operating in Australia and New Zealand. Founded in 2007, the business sells well designed, functional and stylish products in Home Furniture & Décor, Kids and Baby categories.

E&P acted as financial adviser to Adairs, with the acquisition representing the first acquisition made by Adairs since listing on ASX in 2015.