Wesfarmers, Australia’s largest employer, will be seeking to expand abroad.
CEO Richard Goyder, hopes to seek new acquisitions offshore in the years ahead, according to Inside Retail.
With a Hong Kong office already established to focus on oversea targets, Goyder is not ignorant to the risks involved.
“Australian companies have a mixed track record when going overseas and it is easy to burn a lot of shareholders’ money in doing it,” Goyder told the G100 Congress in Sydney, who is keeping cultural considerations, tax and country risk in mind.
Goyder has said a patient approach to investing has been a key to the company’s success.
“One of the great cultural values that has come through over time at Wesfarmers is patience and being able to stare through cycles and being able to therefore make long-term investment decisions.”
Already under the Wesfarmers umbrella are nationally recognised businesses Coles, Bunnings, and Officeworks.
To see Insider Retail’s article.
NOW WATCH: Ideas videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.