Mossgreen has taken over New Zealand’s Webb’s (Peter Webb Galleries Limited) effective from January 16 next year, subject to shareholder agreement of its NZX listed parent company Bethunes Investments Limited.
Webb’s will operate as a wholly owned subsidiary of the Australian auction-house and gallery, which has successfully developed and grown its business to become the largest multi-discipline auction house in Australia over the past 10 years.
“We are very excited by the opportunities that this acquisition will create, as Mossgreen and Webb’s will become the first truly trans-Tasman auction house,” Mossgreen CEO Paul Sumner said.
“We are looking forward to developing the clear synergies that already exist between these two strong and well-respected auction brands.
“On a personal level, I am excited to return my attention to New Zealand, a country where I spent a lot of time when I managed Australia and New Zealand business for Sotheby's International.
“New Zealand is a country rich in culture and with a strong interest in the visual arts and we are delighted to expand our business into this market."
Established in 1976, Webb's is New Zealand's premier auction house specialising in the sale of fine art, jewellery, watches, rare books, fine wines, vintage cars and motorcycles.
Visit Webb’s online at www.webbs.co.nz