Joyce Corporation Ltd (ASX: JYC) has been established for over 130 years focusing on Business-to-Consumer markets from its Head Office in Perth, Western Australia.
Commencing as a foam and furniture manufacturer the company quickly expanded. To compete in a constantly changing environment the group divested the Joyce Foam Products business along with property interests in Moorebank NSW and Brendale QLD while completing the strategic acquisition of 100% of Bedshed Franchising.
In 2014, the group expanded its operations by aquiring 51% of KWB Group Pty Ltd, owners of the iconic Kitchen Connection and WallSpan Kitchen and Waredrobes retail showroom and installation business.
On July 1 2016 Joyce Corporation Ltd acquired a 51% interest in Lloyds Online Auctions Pty Ltd, a long standing online auction business which also owns 51% of the onsite auction business and valuations business of Lloyds Auctioneers and Valuers Pty Ltd.
After selling its Moorebank NSW property in 2015/16 the company invested in a Perth site that was later developed by Joyce Property Holdings. This location in a tightly held area of Perth’s Osborne Park currently houses Bedshed’s offices and corporate warehouse operations along with Joyce Corporation’s corporate office. Surplus areas are currently leased generating income for the group.
In 2017 the group purchased an existing facility in Brisbane industrial suburb of Lytton through the KWB business. The site was renovated and leased on a long -term basis to a kitchen supply partner to the group.
In 2018 Lloyds announced an expansion to its national footprint acquiring Macquarie Auction group and Burns Auctions delivering three sites in western NSW. The online auctioneer has now 11 sites across NSW, Vic, WA, QLD and Nth QLD.
The Group’s vision has seen a tremendous change recently under the stewardship of its current board with Mr. Anthony Mankarios as Executive Director. With an intense focus on delivering increased returns to shareholders the group’s property holdings underpin the robust balance sheet and strong positive cashflow generating business units.
The Company is currently assessing opportunities across Australia for further investments in established businesses as well as increased national growth in its existing businesses. Its corporate performance culture and expertise make Joyce an ideal partner for small to medium growth businesses seeking an active corporate partner with a proven track record of delivering earnings growth.
Joyce aims to deliver above average returns and increasing dividends to its shareholders through strong partnerships with fast growing businesses. This is built on a foundation of high ethical standards and a corporate culture driven by constant quality improvement.
Joyce Corporation is a fast-growing investment company seeking to invest in quality small to medium Australian businesses that have strong potential to expand using their unique intellectual property to a national market dominant status.