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Kidicorp Buys ABC Learning's New Zealand Network | Stuff.co.nz
New Zealand's largest private childcare provider Kidicorp is buying ABC Learning's extensive network of early childhood centres.
Kidicorp's purchase of ABC's 124 centres, for an undisclosed sum, bumps up its childcare centre portfolio to 230 around the country.
The amalgamated company is to offer education and care to just over 15,000 children and employ over 3500 people.
ABC's Australian parent collapsed in late 2008 owing A$1.6 billion ($2 billion) and the receivers had been trying to sell the Kiwi subsidiary ever since.
Kidicorp, a former NZX firm, is privately owned by a family trust of Wayne and Chloe Wright in Tauranga. The Wrights had a long term vision to make a positive difference in children's lives.
Kidicorp managing director Wayne Wright said the amalgamation of the ABC centres was a way to grow this vision.
"It means we have more opportunity to offer quality preschool education and care for children 0-5 years....
Socato » Blog Archive » NZ – Kidicorp in ABC daycare buyout
Tauranga-based Kidicorp will soon be providing early education and care for 15,000 preschool children throughout the country after buying a number of ABC Learning centres.
Kidicorp, established more than 11 years ago, takes over 124 ABC centres from October 28 and will continue to run all of them under the existing names.
The centres are located from Kaitaia to Invercargill.
It will also own the New Zealand College of Early Childhood Education, training up to 300 students a year at its campus in Christchurch and through distance learning.
Kidicorp concluded the deal (the price was not disclosed) with the Australian administrator of ABC, which became the world’s largest provider of early childhood education services before falling into receivership in late 2008, owing more than $2 billion.
Operating brands such as Topkids, Firststeps, Edukids, Early Years, Kids to Five, Montessori and Community Kindy, Kidicorp will have a total of 230 centres nationwide, employing 3500 staff, and looking after more than 15,000 children up to the age of five.
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