Timezone Group, already part-owner of the New Zealand company with the same name, operated as Coin Cascade, has moved to take over the remaining majority stake from Gary Walker and Stuart and Mark Jones.
The existing management team will remain in place to continue to grow the business. Timezone Group managing director Scott Blume, said: “Gary and his team have built an outstanding business and we now move from a minority equity position to 100 per cent ownership and at the same time continue to work with the existing management team.
"This transaction builds upon other recent strategic announcements including our acquisition of the Ardent Leisure business. We believe that there are significant opportunities for growth in the NZ market and this transaction will ensure that the NZ business has the capital to take advantage of these opportunities. We will also continue to look for other bolt-on acquisitions in APAC that complement our growth and capital return strategies.”
