Myer and Premier Investments Finalize $864 Million Merger

The merger integrates Premier's apparel brands into Myer, creating a retail powerhouse with over 780 stores across Australia and New Zealand.

Myer shareholders approved the acquisition of Premier's apparel brands, including Just Jeans, Jay Jays, Dotti, Portmans, and Jacqui E, in a deal valued at A$864 million.
The merger will make billionaire Solomon Lew, Premier's chairman, the largest shareholder in Myer with a 27% stake and a seat on its board.
The combined entity will operate over 780 stores, generating over $4 billion in annual sales across Australia and New Zealand.
Myer CEO Olivia Wirth emphasized the deal's potential to enhance Myer's resilience, diversify earnings, and strengthen its retail platform.
The merger caps a years-long effort by Solomon Lew to influence Myer's direction and marks a significant shift in Australia's retail landscape.