The world’s longest-running dry cleaner has sold for $8.5 million.
Key points:The family-owned company, which was in operation for nearly 100 years, has been bought by an investment company for $4.8 millionThe deal will see the company continue to operate in Australia for another two decadesThe company has a long history in the region, dating back to 1765The deal, worth more than $2 million, will see it continue to provide cleaning services in the state for another decade.
The company, founded by William Macmillan and Robert Baudelaire, has a history in Australia dating back more than 100 years.
It is the oldest dry cleaner still in operation in the country.
The family owned company, known as Macmillans Dry Cleaners, started out as a family business in the Victorian town of Macmillar.
The last dry cleaner to be bought was in 2004, when the company sold for a record $7.5 billion.
Its current owner is the investment company Centura, which bought the company from William MacMillan, his sons, the grandson of William Mac Millan and the late William MacLennan in 2012.
The deal was approved by the Victorian State Council last year and is expected to close by the end of the year.
The Macmillars have been running their family dry cleaner for more than a century and were given the name after Macmillon, a wealthy businessman, who died in 1691.
“It’s quite a remarkable business, in many ways,” said Craig MacMillam, the company’s owner.
“They’ve been around for a very long time.
They’ve been in operation continuously, for over 100 years.”
Mr MacMillaman said it was difficult to compare the success of the family dry cleaning business to the commercial success of other Australian companies, such as the Australian Surgical & Dental Institute (ASDI), which is the largest provider of health care services in Australia.
“We are quite surprised, in particular, to see the longevity of this business,” he said.
“To see it go to such an extraordinary stage, and to be sold at such a premium, I can’t help but feel a bit like we’ve been there before.”
Mr Baudelews is a member of the Macmillam family and also the founder of the Sydney branch of the ASDI.
He has long maintained the company was more than just a dry cleaner, and had a long and varied history.
“I think it’s a wonderful opportunity to keep a company that has such a history and that has a rich history in Sydney and that is still running,” he told the ABC.
“As the oldest operating dry cleaner in Australia, we will be able to continue to offer services to the public in Sydney, the CBD and beyond.”
The purchase is part of a deal between Centura and Macmillants, which has also bought the commercial property and an adjoining site for the family business.
The investment group has purchased the property for $9.5million, with the rest coming from the ASDA.
“The MacMillans Drycleaners is a proud and well-known Australian heritage and we’re excited to welcome the ASDI and the MacMillains family into our business family,” Mr MacMillants said in a statement.
“These acquisitions provide the stability and stability we need to remain in the leading position in the dry cleaning industry.”
The Macmills are currently selling the business for $2.3 million.
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