Winc New Zealand has re-branded to Net Xpress Procurement (NXP) following its sale to the Tiri Group last year.
In 2017, Net Xpress Procurement’s parent company, formerly known as Staples, sold the Australian and New Zealand arms of its global business to Platinum Equity, a private US equity firm.
In 2018, Platinum Equity purchased Net Xpress competitor in Australia and NZ, Office Max.
The Commerce Commission was concerned the transaction would lessen competition in New Zealand. To reduce that concern Platinum Equity decided to sell Winc NZ.
NXP is now understood to be 100 per cent New Zealand-owned by investors led by majority shareholder, Tom Sturgess.
INCLEAN NZ contacted NXP for comment prior to publication.